🗒️ 📺 Notes from my segment on @AsharqBusiness with Mohamed Al Salti 1️⃣ What happened so far in Q4 2025 on Crypto markets?: The Great Leverage Reset -Structural flows remained solid. Market flushed leverage, not holders -BTC open interest crashed from $65B → $35B – DeFi Perp OI held firmer than CEX averages -Institutions didn't panic-sell; this was purely a derivatives flush. 2️⃣ The "Utility Phase" Shift -We are moving from price speculation to economic integration. -The "4-Year Cycle" is broken; retail is quiet/distracted by memes, while ETH positions for RWA/Tokenization. -Crypto is becoming central to the real economy (e.g., potential tokenized gold), not just a wealth creation story. 3️⃣ The Macro Spring -Business indicators suggest a V-shaped recovery is imminent. -ISM Manufacturing index below 50 for 36 months—historical signal for a massive rebound and liquidity injection in 2026. -ETH leads stablecoins, tokenization, DeFi onboarding -Prediction: ETH bottoming now for a run to $5k-$6k by Q1 2026. -Traditional equity markets are joining the blockchain revolution and getting tokenized. 4️⃣Gold outperformed Bitcoin in 2025 (+55% vs flat); looking ahead to 2026 divergence. -“First-Line Refuge" Dynamic (Why Gold Won 2025) In acute panic, capital flows to history before it flows to technology. -Central Bank Bid: Central banks bought >1,000 tonnes of gold in 2025 (record pace), providing a price floor that Bitcoin lacked. -The "Crisis Playbook": During 2025’s geopolitical shocks (tariffs/conflicts), Gold acted as the immediate safe haven; Bitcoin behaved like a risk asset (tech stock), selling off initially before stabilizing. 5️⃣2026 is when the liquidity tap turns back on for digital assets. -The Liquidity Lag: Gold rallies anticipating rate cuts (2025); Bitcoin rallies after liquidity actually hits the system (2026). -2026 Forecast: As Fed rate cuts materialize and real yields drop, Bitcoin is projected to act as "Gold with leverage," potentially outperforming on a percentage basis as risk appetite returns. #️⃣ We also, off camera touch on Arabian Crypto - UAE, the Book Follow me for more crypto market updates. RT if that post was useful. #DigitalAssets #Crypto #Asharq #arabianCrypto #btc #eth #dydx #bloomberg