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State of Bitcoin (Q4 2025)

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NYDIG

November 14, 2025

Our latest webinar captures a turning point for the bitcoin landscape. As markets reset and institutions accelerate their push into bitcoin, NYDIG’s experts—Greg Cipolaro, Ben Lawsky, and Pete Janney—break down the forces reshaping sentiment, regulation, and market structure. It’s a clear-eyed look at what’s driving the next phase of bitcoin’s institutional era.

Key Moments from the Webinar:

00:46 – Macro & Bitcoin Performance
Greg Cipolaro breaks down bitcoin’s year-to-date performance versus equities, gold, and other asset classes—and what’s really driving returns

02:30 – Trading Desk Insights
Pete Janney discusses client sentiment, market positioning, and the implications of recent liquidations

05:13 – Are Bitcoin’s Four-Year Cycles Ending?
Greg examines whether bitcoin’s historic boom-and-bust cycles are giving way to a new era of steady institutional growth

09:18 – Inside the $19B Liquidation Event
Pete explains October’s massive deleveraging—what triggered it, how it unfolded, and what it revealed about market structure and risk

13:48 – DeFi’s Role and Counterparty Risks
Greg analyzes how decentralized exchanges amplified the volatility and what this means for institutional participation

16:55 – Regulatory Landscape Update
Ben Lawsky provides updates on the Genius Act implementation, progress on the Clarity Act, and what to expect from regulators in 2026

22:15 – Coordination Between the SEC & CFTC
A look at leadership changes, improved inter-agency cooperation, and how the Trump administration’s stance is reshaping oversight

25:10 – Traditional Banks Enter the Bitcoin Market
Pete highlights major announcements from JPMorgan, Citi, State Street, and U.S. Bank—and what they signal for mainstream adoption

30:18 – Bitcoin Treasury Companies & Market Valuations
Greg and Pete assess how public companies holding bitcoin are performing and how new financial products are changing their strategies

34:33 – Looking Ahead: Key Themes for 2026
Each panelist shares what they’re watching next—from market structure and regulation to institutional adoption and Bitcoin’s long-term trajectory

Start Reading
Start Reading

Our latest webinar captures a turning point for the bitcoin landscape. As markets reset and institutions accelerate their push into bitcoin, NYDIG’s experts—Greg Cipolaro, Ben Lawsky, and Pete Janney—break down the forces reshaping sentiment, regulation, and market structure. It’s a clear-eyed look at what’s driving the next phase of bitcoin’s institutional era.

Key Moments from the Webinar:

00:46 – Macro & Bitcoin Performance
Greg Cipolaro breaks down bitcoin’s year-to-date performance versus equities, gold, and other asset classes—and what’s really driving returns

02:30 – Trading Desk Insights
Pete Janney discusses client sentiment, market positioning, and the implications of recent liquidations

05:13 – Are Bitcoin’s Four-Year Cycles Ending?
Greg examines whether bitcoin’s historic boom-and-bust cycles are giving way to a new era of steady institutional growth

09:18 – Inside the $19B Liquidation Event
Pete explains October’s massive deleveraging—what triggered it, how it unfolded, and what it revealed about market structure and risk

13:48 – DeFi’s Role and Counterparty Risks
Greg analyzes how decentralized exchanges amplified the volatility and what this means for institutional participation

16:55 – Regulatory Landscape Update
Ben Lawsky provides updates on the Genius Act implementation, progress on the Clarity Act, and what to expect from regulators in 2026

22:15 – Coordination Between the SEC & CFTC
A look at leadership changes, improved inter-agency cooperation, and how the Trump administration’s stance is reshaping oversight

25:10 – Traditional Banks Enter the Bitcoin Market
Pete highlights major announcements from JPMorgan, Citi, State Street, and U.S. Bank—and what they signal for mainstream adoption

30:18 – Bitcoin Treasury Companies & Market Valuations
Greg and Pete assess how public companies holding bitcoin are performing and how new financial products are changing their strategies

34:33 – Looking Ahead: Key Themes for 2026
Each panelist shares what they’re watching next—from market structure and regulation to institutional adoption and Bitcoin’s long-term trajectory

Start Reading
Start Reading

Featured Research & Insights

NYDIG State of Webinar
State of Bitcoin (Q4 2025)

State of Bitcoin (Q4 2025)

State of Bitcoin (Q4 2025)

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