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On November 14, Kevin McCordic of Monad and investor Nic Carter offered opposing readings on the crypto slump 2025, dividing whether it is a routine consolidation or a catalyst-light grind.
McCordic, director of growth at the Monad Foundation who goes by “intern” on X, argued that today’s jitters are modest compared to 2022, when lenders fail, exchanges implode and liquidations cascade down the tokens. He described the drawdown as an uncomfortable but typical consolidation after the crisis and said that crypto is embedded in global finance and “things will be fine.”
Carter, a general partner at Castle Island Ventures and co-founder of Coin Metrics, against that 2025 feels “worse” because crypto is no longer “the star of the show”. In his view, prices are drifting without clear catalysts as buyers dilute and attention shifts elsewhere. He added that the four-year playbook and notions of “high season” seem outdated and that earnings are now based on shipping products that provide real user value.
the two readings involve different approaches. If this is a standard consolidation, patience and positioning for a cyclical rebound make sense. If the weakness reflects lost focus and thin catalysts, returns will likely depend on product adoption and revenue before capital turnover.
Bitcoin traded at around $95,234 at 9 pm UTC on November 15, up 0.9% in the last 24 hours. Year to date, BTC is up 1.93% versus gains of 14.75% for the S&P 500 and 18.77% for the Nasdaq Composite.
