Q3 Crypto market update
Halfway through Q3 2025 and the crypto market is in hyperdrive, and while it is still a very nascent space technologically, there is a lot going on. So, whether you represent new interest or are more seasoned in the space, we thought we would share some of the recent noteworthy events.
Market Performance
The crypto market is riding a strong upward trend, reflecting the fervor of past cycles like 2017 and 2021. Total market capitalization is nearing historic highs, driven by robust performances across major assets.
Bitcoin: Peaked at $123K, now ~$110K
Ethereum: ~$4.6K
Blue chips (Cardano, Solana, Ripple): Gaining significant ground after the announcement of a US Reserve adding the assets
Total market cap: ~$4T, with potential for new highs by year-end
Key Drivers
Institutional adoption and supply dynamics are fueling this rally, marking a shift toward mainstream acceptance. Bitcoin and Ethereum remain at the forefront, supported by landmark investment vehicles and strategic corporate moves (~7% of BTC is not corporate owned).
Bitcoin & Ethereum ETFs: Attracted $36B and $17B, respectively
2024 Bitcoin halvening: Tightened supply, boosting prices
Institutional investment: MicroStrategy ($42B in BTC), KindlyMD ($679M)
Ethereum scaling: BlackRock & Fidelity ETFs, BitMine’s proposed $20B ETH strategic reserve fund
Price Projections
Analysts are bullish on crypto’s near-term outlook, with ambitious price targets reflecting growing confidence. These projections underscore the market’s potential for sustainable growth as institutional capital flows in.
Bitcoin: $175K-$200K by December (Bitwise, VanEck)
Ethereum: $6K+ (Standard Chartered)
Policy Developments
Legislative and regulatory shifts are enhancing crypto’s credibility and accessibility globally. The U.S. is leading with strategic initiatives to integrate digital assets into its financial framework.
U.S. reserve plans: Acquiring BTC, ETH, SOL, ADA, XRP
GENIUS Act: Mandating full reserves for stablecoins, boosting banking system trust
SEC changes: Bitcoin reserve order, Ethereum reserve filings, SAB 121 repealed (allowing of FI's to custody crypto)
401(k) allowances: Potential to unlock trillions in investment
Crypto’s integration into everyday life is accelerating, and adoption is becoming more and more widespread. This was something of an outside opinion 2-3 years ago, but as the global markets have signalled their trust in Bitcoin to the tune of $2.2 Trillion in investment over the last 10 years, it is impossible to ignore. After all, gold and diamonds have no real world intrinsic value yet they have been a cornerstone of wealth preservation for centuries. Digital, immutable, fungible, and programmable money will only have greater relevance to our everyday lives as we move forward.
Cenacle Partners
