Source: cryptoslate

Translation: Blockchain Knight

The cryptocurrency sector has seen significant events in the first half of 2025. Bitcoin rose approximately 24% in the first half, while Ethereum's market value fell nearly 12%.

With President Donald Trump taking office in January, the U.S. attitude towards cryptocurrency has undergone a major shift. Several lawsuits against cryptocurrency companies initiated during the Biden administration have been withdrawn or resolved, and the passage of the "GENIUS Act" marks the birth of the first cryptocurrency-related legislation in the U.S.

In the uncertainty caused by Trump's tariff policies, Bitcoin has become the preferred asset allocation, reaching an all-time high of about $112,000 in May. Institutional interest in Bitcoin and cryptocurrencies has also surged, with data from Farside Investors showing that as of July 3, the net inflow into Bitcoin ETFs was approximately $14.4 billion.

Currently, Bitcoin is trading above $117,000, and here are some major trends investors may face in the second half of 2025.

Bitcoin Reserve Companies Thrive

Since Trump signed an executive order in March to establish a U.S. strategic Bitcoin reserve, several Bitcoin reserve companies have emerged. These companies allocate most of their reserve assets to Bitcoin.

While Michael Saylor's Strategy (formerly MicroStrategy) has been using this model for years, new players like Metaplanet and Twenty One have also entered the market. Last week, Saylor stated that Bitcoin reserve companies have the potential for exponential growth, with their expansion speed depending on their ability to issue securities and purchase Bitcoin.

Companies like Coinbase and Universal Digital Inc. have also announced plans to create Bitcoin reserves. Last month, the SEC approved a $2.3 billion Bitcoin reserve transaction for Trump Media and Technology Group.

Stephen Cole, co-founder and CEO of Bitcoin reserve solution provider Castle, told Investopedia that Bitcoin treasury companies are continuously emerging in major global economies, and this trend will continue in the second half of 2025.

Cole stated, "Driven by global market trends, corporate strategic transformations, and institutional recognition, the second half of 2025 will be a key point for the widespread adoption of Bitcoin as a reserve asset."

Cole added that for all companies, regardless of size, the question of "whether to buy Bitcoin" is rapidly shifting from "if" to "when." In fact, he expects that by the end of 2025, several tech giants will begin purchasing Bitcoin and formulating their allocation strategies.

Altcoins Will Still Have a Place

Despite the emergence of Bitcoin reserve companies, demand for altcoins is expected to continue for the remainder of the year. FalconX research director David Lawant told Investopedia that although access to Bitcoin is becoming increasingly convenient, altcoins with "strong and unique fundamental value propositions" will continue to perform well.

Lawant added, "Regulatory changes such as the cryptocurrency market structure bill, along with a more lenient stance on DeFi experiments, may give rise to new strong trends."

Cryptocurrency ETF and IPO Boom

Under Trump's administration, the SEC has taken a friendlier stance towards cryptocurrencies, and more ETFs are expected to be approved by the end of the year.
Bloomberg ETF analyst James Seyffart stated, "I believe that even if not all of the 19b-4 filings submitted are approved, the vast majority will pass by the end of the year. This includes physically redeemable, staking ETFs, and about 10 single-asset ETFs attempting to launch."

Since the beginning of 2025, several cryptocurrency companies have gone public, with Circle's IPO exceeding expectations, as its stock price rose 475% in less than a month. Gemini has also secretly submitted an IPO application, and reports suggest that OKX may also go public. This trend is expected to continue for the remainder of the year.

Bitcoin and Ethereum Prices

Most analysts are optimistic about Bitcoin's price prospects in the second half of 2025. An anonymous Bitcoin analyst, Stockmoney Lizards, recently pointed out on the X platform: "Bitcoin is about to break out of a multi-year price range." He expects Bitcoin's price to exceed $200,000 by the end of the year.

Bitwise Asset Management also maintains its initial prediction that Bitcoin's price will reach $200,000 by the end of 2025, although the company is less certain about Ethereum's recovery potential. Standard Chartered has also reiterated its prediction that Bitcoin's price will reach $200,000.

As for Ethereum, while its future is full of uncertainty, it may not be time to give up just yet. Lawant believes that with the rollout of spot Ethereum ETFs and the fact that many institutional investors "have not fully allocated to Ethereum," it means that Ethereum "still has significant room for recovery."

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