Crypto Capitulation: What the Market Sell-Off Tells Us About Macro, Geopolitics, and Sentiment in 2025
On Friday and into the weekend, crypto markets were handed a cold dose of macroeconomic reality. Bitcoin dropped nearly 3% to $112,148, Ethereum fell 3.7% to $3,403, and the rest of the digital asset market followed in lockstep. Solana, XRP, and Dogecoin all posted big losses, with DOGE shedding almost 4% in a matter of hours.
This wasn’t just a crypto story, though. This was a broad-based market risk-off event — triggered by a volatile cocktail of soft U.S. jobs data, geopolitical posturing out of Washington, and a sobering reassessment of where we are in the economic cycle. Let’s be clear: the sell-off was not about any one datapoint. It was about a narrative unraveling.
And that narrative — of a resilient economy, a soft…
