According to ChainCatcher, as reported by Barron's, with Bitcoin retracing to $94,000 on Christmas Eve, Japanese cryptocurrency exchange bitbank analyst Yuya Hasegawa elaborated on three key influencing factors for the crypto market in 2025.
Firstly, the cryptocurrency policy direction of the Trump administration will dominate market sentiment. Its proposed strategic Bitcoin reserve plan and the appointment progress of pro-cryptocurrency nominees are expected to directly impact the price trends of mainstream cryptocurrencies including Bitcoin, XRP, and Dogecoin.
Secondly, the Federal Reserve's monetary policy will continue to affect the crypto market. Hasegawa pointed out that loose monetary policy has historically been favorable for Bitcoin prices, while the opposite would have a negative impact. Although the Federal Reserve has cumulatively cut interest rates by 100 basis points this year, Trump's plan to impose tariffs of 10%-20% on all imported goods, with tariffs on Chinese goods potentially reaching 60%, may exacerbate inflationary pressures and force the Federal Reserve to maintain higher interest rates.
Thirdly, the U.S. government debt issue may become a new focus for the market. Hasegawa emphasized that the high interest rate environment will exacerbate the government's debt burden. If concerns about debt sustainability arise and the U.S. strategic Bitcoin reserve plan is successfully implemented, Bitcoin's safe-haven properties as digital gold will gain more attention, potentially driving its valuation further up.
