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The encryption market looks at the second half of 2025 constructive, according to Coinbase, which High A combination of total economic trends, improving organizational clarity, and increasing companies’ participation as the main back winds.
The company’s report, which is composed by David Dung, the international head of research at Coinbase, determines the favorable conditions for further growth through the area of digital assets, including a new potential rise of Bitcoin.
Factors such as the expected Federal Reserve Discounts, the establishment of economic indicators, and the legislative momentum from the two parties on the policy of encryption in the optimistic position of the company.
However, COINBASE research recognizes risks, especially the rise of companies’ entities that use debts to accumulate digital assets. These strategies, with adoption, may also provide structural weaknesses if liquidity conditions or investor morale transformations are tightened.
With companies that have now been able to report Crypto at a fair market value after al -Qaeda changes from the Financial Accounting Standards Council in late 2024, the public budgets that maintain BTC and other digital assets are more common. However, the use of convertible debt to finance such strategies represents concerns about potential sale pressure during strain periods in the market.
The summons of companies with the summons raises concerns about market stability
As of mid -2015, it owns approximately 228 companies that have publicly traded more than 820,000 BTC, according to the data reported by Coinbase. About 20 of those companies, and many other companies displayed by ETHEREUM, Solana and XRP, follow the acquisition strategies inspired by companies such as the previous Microstrategy.
Doong notes that although these methods have not yet caused immediate instability, the lack of uniform financing models may become a problem over time.
If market conditions or debt entitlement approach deteriorate, companies may have to sell large parts of their encryption reserves to meet the obligations, and possibly exaggerate volatility.
Coinbase estimates that most of the debts owed by these companies will not mature until 2029 or later, which may help relieve risk in the short term. In addition, if the loan ratios to the value remain moderate, the companies concerned may remain access to re -financing options or liquidity management that reduce the possibility of urgent assets.
However, Duong warns that systematic weaknesses are still difficult to follow, and the most interested in this model continues to grow, leaving open questions about the elasticity of these strategies under the pressure of the future market.
Organizational developments and broader expectations
The American organizational environment also develops, with suspended legislation such as genius, stable and clarity, is likely to reshape the encryption market by August.
These bills aim to clarify the monitoring roles between SEC and CFTC, determine Stablecoin standards, and provide handrails for institutional participation and retail.
Meanwhile, SEC reviews approximately 80 requests from Crypto ETF, starting with money -backed products to monoCin boxes, with decisions signed between July and October.
Coinbase concludes that although there are risks, especially from the dodging players, the long -term path for Bitcoin is still higher. The company expects to support the wider total trends, institutional adoption and organizational progress continuous expansion during the end of 2025, with the status of Altcoins also chosen to benefit based on the basics of the project.
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