#2025加密趋势预测
Cryptocurrency Market Outlook 2025
Cryptocurrencies just had a stellar year.
The industry rally was led by the launch of 12 Bitcoin spot ETFs in January, making it easier for investors to trade Bitcoin. The rally was further fueled in September by a series of central bank rate cuts and other policies that paved the way for economic growth.
However, the most critical development for digital assets was undoubtedly Donald Trump's victory on Election Day. Trump supported cryptocurrencies during his campaign and has appointed several crypto supporters to lead his administration since his election, including appointing Paul Atkins as chairman of the Securities and Exchange Commission (SEC).
These moves helped Bitcoin break the key $100,000 mark for the first time, while other altcoins began to flourish.
The frenzy has pushed the market value of the entire cryptocurrency market to $3.4 trillion, almost double last year's market value, despite a sell-off following the Federal Reserve's hawkish speech last week.
"It has been a strong year for cryptocurrencies, with total market value up more than 90 percent," a team led by Citi analyst Alex Saunders said in a report on Friday.
Will the bull run in cryptocurrencies continue in 2025? The Citi analyst report points to six key factors that will help determine crypto prices next year, including ETF activity, regulation and the future of a type of cryptocurrency market known as stablecoins.
Supportive macro backdrop
The analysts said they expect the current macro backdrop to continue to support high-risk trading, especially into the first quarter of 2025, but warned that the outlook after that is uncertain. They said the outlook could shift depending on Trump's economic policies and stock market volatility.
"Given the increased uncertainty in U.S. policy and forecast equity volatility, the macro environment could become less favorable for the remainder of the year," they said.
Continued inflows into spot ETFs
The analysts expect strong inflows into cryptocurrency spot ETFs in 2025 to continue in their first year of trading, providing further impetus for crypto growth.
