Why the momentum driving bitcoin adoption is just getting started

While bitcoin (BTC-USD) has hovered around $96,000 in the first several days of 2025 — a pullback from $107,000 in the final weeks of 2024 — BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw $333 million in outflows on Thursday.

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“Crypto tends to move in these kind of momentum cycles. And so we have to be patient during the quiet times, we have to get excited. So for most investors, you have to think really long term,” CoinDesk Indices Managing Director Andy Baehr states, pointing to the Federal Reserve’s September and November meetings and the US election as events that pushed bitcoin higher in “clumps.”

Baehr sits down in-studio with Morning Brief hosts Brad Smith and Madison Mills to talk more about crypto adoption, the outlook on US regulatory frameworks, and the general view on bitcoin ETFs moving ahead in 2025.

“The adoption momentum, when you think ahead, is just getting off to a start. And the dialogue change between this time last year and today has been huge. So you can’t really look at bitcoin and think of it as something that has a valuation cycle, like a 500-year-old asset. It’s still brand new,” Baehr tells Yahoo Finance.

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“Adoption momentum for bitcoin is going to do two things: it’s going to continue to support a medium to long term price, and it’ll also over time, we believe, help to dampen volatility.”

To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.

This post was written by Luke Carberry Mogan.