Coinbase has released its latest report on the future of Bitcoin and Cryptocurrencies!

According to a new report published by Coinbase Research, a more optimistic macroeconomic environment in the second half of 2025, increasing institutional interest in digital assets, and clearer regulations present a positive outlook for the cryptocurrency markets.

In the first quarter of the year, there were fluctuations in the markets due to the temporary contraction in the US GDP and disruptions in trade. However, the latest data indicates a recovery. The Atlanta Fed's GDPNow tracking data showed a significant increase, rising to 3.8% on a quarterly basis as of the beginning of June, compared to expectations at the beginning of the year. This development, combined with expectations that the FED will lower interest rates and a more moderate trade policy, alleviated recession concerns and boosted investor confidence.

According to the Coinbase report, the weakening of the dollar's global dominance and Bitcoin's emergence as a hedge against inflation may also increase interest in crypto. However, the high levels of long-term US Treasury yields may limit this interest. The performance of altcoins will largely depend on specific catalysts such as ETF approvals or protocol-based developments.

Another noteworthy development in the report is the increasing tendency of publicly traded companies to include crypto assets in their balance sheets. The regulation that came into effect in 2024 allows the transition to a "fair value" accounting method for digital assets, supporting this trend. However, this trend also brings along new systemic risks. In particular, companies that finance crypto purchases with convertible debt may be forced to sell in the event of a tightening of refinancing options or a sharp decline in market prices.

Important steps are also being taken on the regulatory front. The Senate has sent the stablecoin legislation known as the GENIUS Act, which was recently passed with bipartisan support, to the House of Representatives. In addition, a more comprehensive market structure bill called the CLARITY Act is also on the agenda. This law aims to clarify the authorities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over digital assets. If the law passes, uncertainties for both issuers and investors will significantly decrease.

On the other hand, the SEC is evaluating more than 80 crypto ETF applications, including products involving multi-asset funds, staking, and altcoins. The first decisions are expected to be announced in July, with the rest expected by October.

Overall, according to the Coinbase report, Bitcoin could perform strongly in the second half of the year, backed by macroeconomic and structural winds. For altcoins, success will depend on navigating through a more complex environment marked by regulatory uncertainties and liquidity conditions.

*This is not investment advice.

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