A more optimistic macroeconomic background, growing business appetite for digital assets and increased legislative clarity will burn a constructive view of crypto markets in the second half of 2025, according to a Coinbase Research report.
After an uneven first quarter marked with a short contraction in US GDP and trade disorders, data is now pointing to stronger growth. Atlanta Fed’s GDPNow Tracker has jumped to 3.8% QOQ from the beginning of June, a sharp upgrade from earlier this year. This shift along with the expectations of cuts in Federal Reserve and a less aggressive trade policy has facilitated recession fear and strengthened investor mood.
Falling Dollar Dominance and Inflation Protection Boxes May Also Increase Bitcoin’s
Appeal, although the long -dated US Ministry of Finance’s dividends remain increased, the report says. ALTCOINS can half unless they benefit from specific catalysts, such as ETF approvals or protocol developments.
Meanwhile, public companies are increasingly adding crypto to their balance, aided by a change from the 2024 rule that allows “Mark-to-Market”, which accounts for digital assets. Although this trend is expanding demand, it also introduces new systemic risks. Companies that finance crypto buy with convertible debt may be forced to sell if refinancing options dry up or prices fall sharply.
Legislative clarity
The regulatory development is also expected to reshape the market, says the report.
The Senate recently adopted the Genius Act, a Bipartisan StableCoin Bill proposal that is now on its way to parliament. A wider market structure, Clarity Act, aims to define the roles of Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in supervising digital assets. If adopted, it can clarify rules for both issuers and investors.
Separately, SEC is considering more than 80 Crypto ETF applications, including multiple assets and suggestions involving efforts and altcoins. Some decisions could be made as early as July, and the rest is probably completed by October.
Generally, Bitcoin seems to take advantage of both macro and structural tail winds in the second half of the year, while the prospects for Altcoins will depend on navigating a more complex and still developing regulatory environment and liquidity environment, according to the report.
