Coin WorldSaturday, Jul 12, 2025 10:02 am ET

2min read

In the first half of 2025, the cryptocurrency market experienced significant shifts. Bitcoin (BTC) saw a 24% increase in price, while Ethereum (ETH) lost nearly 12% of its value. The U.S. approach to cryptocurrencies underwent a notable change with President Donald Trump's administration, which dropped or resolved several lawsuits against crypto firms and passed the GENIUS Act, the first crypto legislation in the U.S. This legislative shift, coupled with the uncertainty surrounding Trump’s tariffs, pushed Bitcoin to an all-time high of around $112,000 in May. Institutional interest in Bitcoin and crypto surged, with spot Bitcoin exchange-traded fund (ETF) net inflows totaling around $14.4 billion as of July 3.

With BTC currently trading at above $117,000, several trends are expected to shape the second half of 2025. One of the most prominent trends is the rise of Bitcoin treasury companies. Since Trump signed an executive order in March to create a U.S. strategic Bitcoin reserve, several companies have emerged that hold a major portion of their reserve assets in BTC. Michael Saylor-led Strategy (formerly MicroStrategy) has been a pioneer in this model, and new entrants like Metaplanet and Twenty One have joined the fray. The U.S. Securities and Exchange Commission (SEC) recently approved Trump-owned Trump Media and Technology Group’s $2.3 billion Bitcoin Treasury deal, further validating this trend. Stephen Cole, co-founder and CEO of Bitcoin treasury solution provider Castle, predicts that the latter half of 2025 will mark a pivotal moment for Bitcoin’s adoption as a treasury asset, driven by global market trends and institutional validation. Cole expects several major tech giants to begin buying BTC and defining their allocation strategies by the end of 2025.

Despite the rise in Bitcoin Treasury companies, demand for altcoins is likely to continue. David Lawant, Head of Research at FalconX, notes that altcoins with a strong and distinct fundamental value proposition will continue to perform well. Regulatory shifts, such as the crypto market structure bill and a more permissive stance toward decentralized finance (DeFi) experimentation, could unlock powerful new trends in the altcoin market.

The second half of 2025 is also expected to see an increase in crypto ETFs and IPOs. With the SEC adopting a more friendly approach to cryptocurrencies under the Trump administration, more ETFs are likely to get approved by the end of the year. Several crypto companies have already gone public, with Circle’s IPO exceeding expectations with 475% stock price growth in less than a month. Gemini has also confidentially filed for an IPO, and there are reports of OKX potentially going public. This trend is likely to continue for the rest of the year.

Most analysts are bullish about the prospects of the BTC price in the second half of 2025. Pseudonymous BTC analyst Stockmoney Lizards recently noted that Bitcoin is about to break out of a multi-year channel and expects the BTC price to cross $200,000 by the end of the year. Bitwise Asset Management and Standard Chartered have also reiterated the $200,000 BTC price prediction. As for Ethereum, while the future looks uncertain, it may not be time to give up yet. Lawant believes that the increasing launch of spot ETH ETFs, coupled with the fact that it remains underowned by many institutional investors, means that there is meaningful room for a catch-up.