Crypto
Bears, Bulls and Regulations Shape Crypto’s 2025 Aspirations | PYMNTS.com
The global cryptocurrency market is capitalized at over $3 trillion. Much of that value is concentrated at the top, among a few key digital tokens.
Bitcoin, as the first and most widely recognized cryptocurrency, plays a central role in the sector’s valuation, commanding a substantial share. At its highest, bitcoin’s market capitalization has approached $2 trillion, representing roughly two-thirds of the landscape’s overall market value.
Bitcoin topped $100,000 as 2024 came to a close, but has skidded down double digits from its peak of over $108,000 around two weeks ago.
This concentration of value at the top has implications for the overall market’s volatility, innovation and the evolution of altcoins, with bitcoin often setting the tone for broader market trends. It also raises questions about the future of crypto market dynamics as new technologies and use cases continue to emerge.
With the news that the Tether stablecoin’s (USDT) market cap fell more than 1% to $137.24 billion this week, the largest decline since the crash of the FTX exchange in November 2022, understanding the impact of regulations on the marketplace is becoming crucial for businesses looking to capture efficiencies and advantages from the use of tokens such as stablecoins.
After all, USDT is supposed to maintain a stable, flat value of $1. As of reporting, the stablecoin is a smidge below that value, sitting at $0.9993. The decline comes after several European Union-based crypto exchanges removed USDT due to compliance issues with the EU’s Markets in Crypto-Assets (MiCA) regulation that took full effect on Dec. 30 (the actual law around stablecoins kicked in six months ago).
Per the MiCA regulations, stablecoin issuers must hold an e-money license in at least one EU member state in order to operate across the 27-nation bloc. Tether, which has faced controversy throughout its history, has yet to apply for an e-money license.
Read more: What Was Crypto’s Biggest 2024 Story? Hint: It Wasn’t Named Elon
The Role of Institutional Adoption
In 2025, the cryptocurrency market may find itself at a crossroads. If the bulls are right, the industry could see substantial growth, with more institutional investment, regulatory clarity and real-world use cases for cryptocurrencies. However, if the bears prevail, we may witness a volatile market, regulatory crackdowns and a continued struggle to overcome the technology’s shortcomings.
The bullish optimism surrounding institutional adoption is one of the strongest driving forces. In 2025, financial institutions, banks and even central banks are expected to play a significant role in legitimizing cryptocurrencies. Global financial giants are already eyeing blockchain for solutions like cross-border payments and settlement systems, providing liquidity for crypto markets and solidifying their utility in traditional finance.
Stablecoins — digital currencies pegged to traditional assets like the U.S. dollar — are likely to become a common mode of transaction. With major players in FinTech, like PayPal and Visa, already integrating cryptocurrencies into their platforms and experimenting with stablecoins, real-world use cases could soon be as easy as tapping a credit card.
Read also: Why Banks Might Want to Have a Blockchain Strategy
The Bearish Argument: Volatility, Regulatory Shadows
Perhaps the biggest concern for crypto’s future is government regulation. The lack of clear rules around cryptocurrencies has been a major deterrent for mainstream adoption.
PYMNTS covered on Nov. 25 how cryptocurrencies, and more specifically their underlying blockchain technologies, have gone from a solution in search of a problem to a solution in hopes of some regulatory clarity. Of course, that clarity may come when cryptocurrency companies and other firms embrace and invest in, rather than resist, appropriate guardrails for their industries.
The dynamic situation at home in the U.S. has even led to people like venture capitalist Marc Andreessen arguing that banks are cutting ties with customers on the political right, or with industries such as the cryptocurrency sector.
Writing about the issue earlier this month, PYMNTS argued that while Andreessen’s claims might resonate with the frustrations held by many corners of the cryptocurrency and FinTech sectors, the reality could be far more nuanced than a political assault on those industries.
“After all, innovation typically moves faster than regulation, and the growing strain between traditional banks and future-fit FinTech and crypto firms can also be in part chalked up to the inevitable consequence of outdated regulatory frameworks, stricter know your customer (KYC) and anti-money laundering (AML) standards, as well as heightened fraud risks,” that report said.
Two weeks into a Middle Eastern war and bitcoin is higher than where it started.
The largest cryptocurrency was trading at $71,000 on Saturday morning, down 0.7% over the past 24 hours after the U.S. bombed military targets on Kharg Island, Iran’s main crude export facility.
The reversal from Friday’s $73,838 high was sharp but contained. Bitcoin gave back 3.5% on the Kharg headlines and stopped. A month ago, a comparable escalation would have triggered a much deeper sell-off.
The weekly numbers tell the resilience story. Bitcoin is up 4.2% over seven days. Ether gained 5.5% to $2,090. Dogecoin added 5%. Solana rose 4.2% to $88. BNB climbed 4.5% to $655. Every major is green on the week despite the war intensifying, not easing.
The market is adapting to the conflict in real time. Early in the war, every headline produced an outsized reaction because nobody could price the tail risk. Now, traders have a framework, where strikes happen, oil spikes and bitcoin dips only to recover again.
The pattern has repeated enough times that the reflexive sell-the-headline impulse has faded. However, the $73,000-$74,000 resistance level stays in place, and has now rejected bitcoin four times in two weeks.
Trump’s language on Kharg Island added a new variable in the markets.
In a Truth Social post late Friday, he said he spared oil infrastructure “for reasons of decency” but would “immediately reconsider” if Iran continued blocking the Strait of Hormuz.
Iran responded that any strike on energy infrastructure would trigger retaliatory attacks on U.S.-linked facilities in the region. That’s a conditional escalation threat that didn’t exist 48 hours ago. If oil infrastructure becomes a target, the supply disruption, which the IEA already called the largest in history, gets dramatically worse.
Meanwhile, the $371 million in liquidations over the past 24 hours reflected the two-way nature of Friday’s session. Short liquidations outpaced longs at $207 million versus $163 million, meaning the initial surge to $73,800 squeezed bears before the Kharg headlines squeezed the longs who had just entered.
Attention now shifts to the Fed meeting on March 17-18. Oil above $100, the largest energy supply disruption in history, and a war entering its third week with no resolution make the stagflation case harder to dismiss.
CME FedWatch still prices a 95%+ probability of a hold at 3.5% to 3.75%, but the dot plot and Powell’s press conference will matter more than the decision itself. Any hint that rate hikes are back on the table would hit risk assets hard, including a crypto market that has spent five months pricing in cuts that keep not arriving.
Crypto
How to Trade Cryptocurrency: Strategies, Platforms & Risk Management for 2026 – News and Statistics – IndexBox
Mar 13, 2026
The cryptocurrency market has evolved from a specialized online activity to a widely recognized asset class in a decade and a half. According to a report from Yahoo Finance, the sector now encompasses thousands of digital assets with a collective valuation exceeding two trillion dollars.
Understanding the Asset Class
Cryptocurrencies function as digital assets enabling the transfer and storage of value outside conventional financial systems. Individuals engage in trading for reasons such as possible price increases, portfolio diversification, or generating passive income through mechanisms like staking. The inherent volatility of these markets means prices can change dramatically within short periods, and participants face risks including project failures and exchange insolvencies.
Mechanics and Infrastructure
These digital assets operate on a blockchain, a decentralized ledger maintained across numerous independent computers. Transaction validation occurs through network consensus rather than a central authority. Different cryptocurrencies utilize distinct blockchains, with some supporting features like smart contracts that automatically execute agreements.
Establishing Objectives and Methods
Defining clear goals is a critical first step, whether seeking short-term gains or long-term portfolio exposure. Common strategies include holding assets long-term, employing dollar-cost averaging to mitigate volatility, or engaging in swing, breakout, scalping, or arbitrage trading to capitalize on price movements.
Accessing the Market
Investors have several avenues for exposure. They can purchase coins directly via exchanges, buy shares of exchange-traded funds that track cryptocurrency prices, invest in stocks of companies involved in the sector, or trade complex futures contracts. Each method carries different implications for ownership, risk, and complexity.
Selecting a Trading Platform
The choice of platform significantly impacts outcomes through fees, security, and available features. Dedicated crypto exchanges offer wide coin selections and advanced tools but may involve complexity and third-party custody. Traditional investment platforms and payment apps provide simpler interfaces but often have limited crypto features and higher effective costs. Traditional brokerages are suited for ETF or stock purchases, offering a regulated environment but only indirect crypto exposure.
Choosing Assets and Executing Trades
Beginners are often advised to focus on major cryptocurrencies with substantial market presence and trading volume, as these typically offer greater liquidity. Placing a trade involves selecting an asset and amount, with careful attention to order types. Market orders execute immediately at current prices, limit orders only at a specified price, and stop-loss orders are designed to limit potential losses by triggering a sale at a predetermined level.
Ongoing Management and Security
Continuous monitoring is necessary, especially for active traders, with platform dashboards providing data on holdings and performance. Security practices vary based on strategy; long-term holdings may be moved to offline hardware wallets for safety, while active trading balances might remain on exchanges for convenience, each approach involving distinct trade-offs.
Risk and Tax Considerations
Effective risk management is essential and can involve using stop-loss orders, avoiding excessive leverage, taking profits at set levels, and limiting the capital risked per trade. For tax purposes, cryptocurrencies are generally treated as property, meaning transactions can create taxable events. While new reporting forms are being introduced, individuals remain responsible for maintaining accurate records of their cost basis and gains.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
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8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
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9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition
PRO-
11.1
United States
- Market Size
- Production
- Imports
- Exports
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11.2
China
- Market Size
- Production
- Imports
- Exports
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11.3
Japan
- Market Size
- Production
- Imports
- Exports
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11.4
Germany
- Market Size
- Production
- Imports
- Exports
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11.5
United Kingdom
- Market Size
- Production
- Imports
- Exports
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11.6
France
- Market Size
- Production
- Imports
- Exports
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11.7
Brazil
- Market Size
- Production
- Imports
- Exports
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11.8
Italy
- Market Size
- Production
- Imports
- Exports
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11.9
Russian Federation
- Market Size
- Production
- Imports
- Exports
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11.10
India
- Market Size
- Production
- Imports
- Exports
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11.11
Canada
- Market Size
- Production
- Imports
- Exports
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11.12
Australia
- Market Size
- Production
- Imports
- Exports
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11.13
Republic of Korea
- Market Size
- Production
- Imports
- Exports
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11.14
Spain
- Market Size
- Production
- Imports
- Exports
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11.15
Mexico
- Market Size
- Production
- Imports
- Exports
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11.16
Indonesia
- Market Size
- Production
- Imports
- Exports
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11.17
Netherlands
- Market Size
- Production
- Imports
- Exports
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11.18
Turkey
- Market Size
- Production
- Imports
- Exports
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11.19
Saudi Arabia
- Market Size
- Production
- Imports
- Exports
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11.20
Switzerland
- Market Size
- Production
- Imports
- Exports
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11.21
Sweden
- Market Size
- Production
- Imports
- Exports
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11.22
Nigeria
- Market Size
- Production
- Imports
- Exports
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11.23
Poland
- Market Size
- Production
- Imports
- Exports
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11.24
Belgium
- Market Size
- Production
- Imports
- Exports
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11.25
Argentina
- Market Size
- Production
- Imports
- Exports
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11.26
Norway
- Market Size
- Production
- Imports
- Exports
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11.27
Austria
- Market Size
- Production
- Imports
- Exports
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11.28
Thailand
- Market Size
- Production
- Imports
- Exports
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11.29
United Arab Emirates
- Market Size
- Production
- Imports
- Exports
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11.30
Colombia
- Market Size
- Production
- Imports
- Exports
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11.31
Denmark
- Market Size
- Production
- Imports
- Exports
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11.32
South Africa
- Market Size
- Production
- Imports
- Exports
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11.33
Malaysia
- Market Size
- Production
- Imports
- Exports
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11.34
Israel
- Market Size
- Production
- Imports
- Exports
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11.35
Singapore
- Market Size
- Production
- Imports
- Exports
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11.36
Egypt
- Market Size
- Production
- Imports
- Exports
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11.37
Philippines
- Market Size
- Production
- Imports
- Exports
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11.38
Finland
- Market Size
- Production
- Imports
- Exports
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11.39
Chile
- Market Size
- Production
- Imports
- Exports
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11.40
Ireland
- Market Size
- Production
- Imports
- Exports
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11.41
Pakistan
- Market Size
- Production
- Imports
- Exports
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11.42
Greece
- Market Size
- Production
- Imports
- Exports
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11.43
Portugal
- Market Size
- Production
- Imports
- Exports
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11.44
Kazakhstan
- Market Size
- Production
- Imports
- Exports
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11.45
Algeria
- Market Size
- Production
- Imports
- Exports
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11.46
Czech Republic
- Market Size
- Production
- Imports
- Exports
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11.47
Qatar
- Market Size
- Production
- Imports
- Exports
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11.48
Peru
- Market Size
- Production
- Imports
- Exports
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11.49
Romania
- Market Size
- Production
- Imports
- Exports
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11.50
Vietnam
- Market Size
- Production
- Imports
- Exports
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-
LIST OF TABLES
- Key Findings In 2025
- Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
- Per Capita Consumption, by Country, 2022–2025
- Production, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
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LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
- Consumption, by Country, 2025
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Production, by Country, 2025
- Production, In Physical Terms, by Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Physical Terms, By Country, 2025
- Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Physical Terms, By Country, 2025
- Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
- Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
The Bitcoin Policy Institute (BPI) says it will push the US Federal Reserve to change how Bitcoin is treated, as the central bank is set to issue rules on how banks should implement international guidelines for asset risk weighting.
“BPI will be reviewing this proposal closely and submitting a public comment to ensure that US regulators get Bitcoin’s treatment right,” Bitcoin Policy Institute managing director Conner Brown said in an X post on Wednesday.
It comes just a day after the Fed announced it will issue a proposal for public comment on how US banks should implement risk-weighting guidance, which determines how risky different assets are on a bank’s balance sheet, from the Basel Committee on Banking Supervision.
Brown said Bitcoin (BTC) is “treated as a toxic asset under the Basel framework, a global standard for banking regulations.
He added it carries a 1,250% risk weighting, which was “harsher than virtually all other asset classes.”
“More efficient regulation” is the aim: Fed
Federal Reserve vice chair for supervision Michelle Bowman said on Thursday that the agency will be proposing rules in the coming weeks to implement the final phase of Basel in the US.
Bowman said that the aim is “more efficient regulation and banks that are better [positioned] to support economic growth, while preserving safety and soundness.”
The 1,250% capital requirement means that banks must back any Bitcoin on their balance sheets at a 1:1 ratio with approved collateral, making holding the cryptocurrency more costly than other asset classes.
Cash, physical gold and government debt carry a 0% risk weight under the Basel framework.
“The most punitive classification”: Bitcoin Policy Institute
Brown said in a blog post last month that the treatment of Bitcoin is the “most punitive classification” in the Basel Committee’s capital framework and a “category error.”
In 2021, the Basel Committee proposed placing crypto in its high-risk Group 2 set of assets. Group 2 holdings were restricted to under 1% of the value of their Group 1 holdings.
“This risk weighting makes it extremely difficult for banks to provide financial services to Bitcoiners and Bitcoin companies,” Brown said.
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