Bitcoin spot ETFs closed 2025 with $348 million in net outflows on the final trading day. Bitcoin settled at $87,496, down about 6% from the end of 2024. Ethereum ETFs also saw outflows, though Solana and XRP funds posted small gains. There was a significant $74.6 billion liquidity injection from the Fed via the repo market, mostly to help banks manage year-end pressure. Analysts think this hints at policy flexibility for 2026. A strategist at Charles Schwab mentioned that rate cuts and lower Treasury demand next year could help risk assets like Bitcoin recover. However, current sentiment is fearful. Some models predict a range of $80k-$140k for 2026, while bearish scenarios see a drop to $50k or $60k before a recovery. Also, Vanguard has finally reversed its stance and started allowing crypto ETF trading on their platform.