We are in the last month of the year. Let’s be honest, 2025 will go down in financial history as the “Great Altcoin Massacre.” While everyone expected a “Mega Bull” at the end of 2024, all we have left this year is Bitcoin dominance and an altcoin market turned into a graveyard. So, what happens now? My Sunday night notes and mid-term targets are below.

CRYPTO (BTC & ETH)

Throughout 2025, we saw liquidity flow not to “utility” (functional) projects, but only to BTC and periodic hype cycles. $BTC We are at a real decision point right now. As long as the $88,500 support (which has become the year’s most critical “stronghold” level) holds, the direction is upwards toward $98,000 and the psychological 100K wall. But if there’s a daily close below 88K, we’ll say “winter isn’t over” and there will be a fast elevator down to the 74K range.
•$ETH The biggest disappointment of the year. ETH/BTC pair has just collapsed. For ETH, the $3,200 level is the “make or break” line. Unless it climbs above and stays there, it’s impossible for altcoins to get any lifeline.

ALTCOIN MARKET

2025 in a nutshell: “Unlocks (unlocks) and VC sell-offs.” Every new project seemed like it just launched to dump on investors.

· Aside from the old guards (Major Alts), 90% of the rest has become trash.

• If your portfolio is still down more than 50% and the project team hasn’t pushed code to GitHub since mid-2025, it’s time to say goodbye. Only projects that “have a story” and “an active community” (Meme or RWA/AI focused) might catch a breath at the start of 2026.

NASDAQ

With interest rate cuts, Nasdaq is pushing for 21,000 points. The bubble in tech stocks is scary, but the trend is “Long.” There’s a possibility of a year-end rally (Santa Rally) on the table. Correlation with crypto has broken; while they soared, we stayed put, which stemmed from crypto’s own internal issues (regulation and trust).

GOLD & SILVER
While digital gold (BTC) stumbled, physical gold said “I’m here.”

• As war drums beat, the safe haven is working.
• Silver too.

BIST 100

The index hasn’t managed to break above the 11,500 - 12,000 range. The appeal of deposit rates will continue to weigh on the stock market throughout 2025.

• Expectation: Without a weekly close above 12,200, a “new peak” is just a dream. Until that happens, venturing outside BIST 30 is like walking through a minefield. By sector, Energy and Retail remain defensive.

2025 wore us out, melted wallets. Those dreams of “0”s in altcoins have been replaced by “I just want my money back.”
If you’re in cash right now, you’re the king; don’t rush, the market will pick its direction in the first quarter of 2026.

If you’re stuck; stick to your stop losses, don’t make the mistake of adding to “dead projects” to average down.
The night is long, we’re watching. Wishing everyone a good week.
#Bitcoin #Altcoin #Bist100 #Nasdaq