Bitcoin breaks its post-halving streak with first annual loss
Bitcoin has shaken up one of its most watched historical patterns, closing 2025 with roughly a 6% annual loss — its first red year following a halving event. This breaks the once-reliable four-year cycle that fueled previous bull markets in 2013, 2017, and 2021.
Currently trading near $88,700, about 30% below its October peak, Bitcoin’s price seems less driven by halving events and more by ETFs, institutional capital, and broader macro liquidity conditions.
Other key crypto news today
Turkmenistan legalises crypto mining and exchanges
Turkmenistan has officially legalised cryptocurrency mining and exchange operations under a new law signed by President Serdar Berdimuhamedov. The legislation brings virtual assets under civil law and introduces a central bank licensing framework, though crypto will not be recognised as legal tender, currency, or securities. This marks a significant shift for one of the world’s most isolated, gas-dependent economies.
Coinbase sets sights on global all-in-one exchange in 2026
Coinbase CEO Brian Armstrong shared the company’s 2026 roadmap, which includes building a global platform supporting crypto, equities, and commodities, with spot, futures, and options trading. Armstrong also highlighted plans to expand stablecoins, onboard more users via Coinbase’s developer platform, Base blockchain, and Base App, and invest in product quality and automation.
Iran’s state arms exporter proposes crypto payments
Iran’s Ministry of Defence Export Center (Mindex) has reportedly floated the idea of accepting cryptocurrency for weapons sales, including missiles, drones, and warships. The centre serves clients in 35 countries and is open to crypto alongside barter or Iranian rial payments. The Financial Times verified the authenticity of Mindex’s website, signalling that the proposal is serious amid global financial sanctions.
Bitcoin may already be in a bear market
According to CryptoQuant, Bitcoin might have entered a bear market as early as November 2025. Julio Moreno, head of research at CryptoQuant, cited several technical and on-chain indicators that turned bearish months ago and have yet to recover. The CryptoQuant bull score index — which tracks network activity, investor profitability, demand, and liquidity — has been flashing warning signs for weeks.
