Odaily Planet Daily News Steno Research recently released a report stating that its bullish forecast for BTC and ETH prices reflects an "unprecedented favorable regulatory environment for cryptocurrencies, a supportive macroeconomic environment marked by declining interest rates and improving liquidity, and historically strong performance after Bitcoin halving." It also stated, "In addition, institutional adoption is expected to reach unprecedented levels, and a significant influx of funds into U.S. Bitcoin and Ethereum ETFs has further driven this trend." Steno expects net inflows for BTC and ETH ETFs to be $48 billion and $28.5 billion, respectively, in 2025. Furthermore, the report indicates that DApp TVL is expected to exceed $300 billion by 2025, far surpassing the high of approximately $180 billion in 2021. Earlier reports from Steno Research indicated that Bitcoin's price is expected to rise from approximately $94,000 to a minimum of $150,000 next year, while the price of ETH is expected to more than double, increasing from $3,400 to at least $8,000. That is, the ETH/BTC exchange rate is expected to rise from the current 0.0357 to 0.06 within the next 12 months, similar to price trends in previous cycles, with altcoins becoming the focus of attention.

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