Bitcoin (BTC) has outperformed all other sectors in the crypto market this year, while meme coins and AI sectors experienced significant losses. AI-related sectors, including AI Frameworks and Agents, saw the most severe declines, followed by meme coins and Gaming Infrastructure. The results defy earlier market expectations, as traders anticipated AI-related projects and meme coins to lead the crypto space in 2025. However, meme coins have struggled to recover and their market capitalization has returned to November 2024 levels. Bitwise CIO Matt Hougan believes meme coins will collapse entirely within the next six months.