The crypto market in 2025 shows a clear pattern. Stories come and go quickly like waves. By October, data showed that debate over the most promising themes had almost completely disappeared.
This article discusses sudden changes based on available data and expert insights.
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The story quickly disappeared in October.
Google Trends data highlighted a notable phenomenon in October 2025. Interest in topics such as privacy coins, Perps DEX, tokenized gold, and digital asset government bonds has plummeted.
Just a month ago, the community was actively discussing these topics and selecting promising projects to run until the end of the year.
A recent report from CoinGecko offers several explanations for this unusual silence.
First, the U.S. government was shut down in October, halting the release of major economic indicators such as CPI, NFP, and inflation data. Due to a lack of information, the Federal Reserve was unable to make policy decisions and the market was forced to steer blindly.
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Between September 20th and 30th, over $5 billion of long positions in cryptocurrencies were liquidated. Bitcoin has since rebounded, reaching new highs of over $126,000, but by October 10, nearly $19 billion in positions had been wiped out, leaving retail investors almost completely exhausted.
A lack of capital and data has made investors increasingly silent. The report describes Q4 2025 as “the quarter that started with silence.”
Cryptocurrency culture is hurting investors
Additionally, X analyst Hitesh clarified the issue from a psychological perspective.
He argued that social media algorithms intentionally steer users to discuss only a small number of “hot” topics in order to maximize engagement time. Over the past few years, the decentralized attention to cryptocurrencies has gradually disintegrated, settling into just a few dominant coins and narratives each day.
He added that content creators and their followers currently live in echo chambers, only hearing what confirms their beliefs. In this attention-driven ecosystem, producers win, but ultimately consumers are consumed.
“Each cycle, new buildings are built on a weak foundation of ideas, stories, coins, and people rush to decorate the floors without checking if the foundations are solid. Then the first small fix, the earthquake happens, and the whole building collapses,” said Hitesh Es.
Hitesh’s insights combined with CoinGecko’s data clearly explain why the story rises and falls so quickly. Even after the noise has died down, the scars of investors’ huge losses remain.
