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1、1Crypto market outlook report 2025Sygnum investment researchCrypto Market Outlook 2025SYGNUM.COMCharting the escalating demandfor Bitcoin in 20252Crypto market outlook report 20252024 was quite a year for crypto.In January,days after the SEC approval of the first US spot Bitcoin ETFs,the asset start

2、ed its 160%climb to the symbolic USD 100,000 level.It reached this landmark on 4 December,no doubt propelled by the incoming US administrations promised regulatory reforms and the well-timed alignment between the crypto and general liquidity cycles.We anticipate this momentum to continue in 2025,des

3、pite a mixed macro outlook,due to a number of powerful drivers.These range from potential demand shocks created by new institutional investors and strong US economic and earnings growth forecasts,to tech-driven advancements in scalability and interoperability.This years Outlook starts with the case

4、for the 2025 bull market,and then performs a deep dive into how ETFs and regulatory clarity could combine to deliver a watershed year for the industry.Part III examines the key risks of inflation and geopolitics,with Part IV striking a note of caution over structural changes that might disrupt the c

5、rypto cycles traditional alt season.The final section looks at the industrys potential winners,losers and challengers in detail.I trust that you will enjoy the read,and that it helps challenge your thinking,shape your investment thesis and navigate the exciting year ahead.Please feel free to reach o

6、ut,I am always happy to engage!Welcome to Sygnums Crypto Market Outlook 2025Mathias Imbach Sygnum Co-Founder and Group CEO3Crypto market outlook report 2025Table of contentsExecutive summary4444Demand shocks ahead Political support and personnel changes The Fed remains ahead of the curve Alt season