On the surface, the encryption market barely moved in the first half of 2025.
In spite of all tantrum on rates, imminent recession, war and the greatest expectations of cryptographic policies and a strategic reserve of digital assets with the return of Donald Trump to the White House, the total capitalization of the cryptocurrency market, measured by tradingView, increased 3% to $ 3.27 trillions during the last six months.
Looking more closely, the performance was very unequal, with Bitcoin
keeping the rest of the market.
BTC rose 13% in the first six months of 2025, continuing to eclipse the broader market. Meanwhile, Ethereum’s Ether
The second largest cryptographic asset fell 25%, and Solana threw almost 17%.
The smallest and most risky tokens suffered even more clear losses: the others are indexed in tradingView, which excludes the 10 largest assets for market capitalization, fell 30%.
What follows?
Despite the modest beginning of the year, some analysts see space to renew upwards. Joel Kruger, LMAX Group market strategist, said Julio has historically been a solid month for cryptography, averaging 7.56% returns since 2013.
“We enter a period that has traditionally delivered stronger yields,” Kruger said. “With the second half of the year, historically producing outstanding profits, the broader configuration remains encouraging.”
Kruger also stressed that the trend of the Crypto Treasury strategy is expanding more and more beyond Bitcoin, and companies announce plans to accumulate digital assets such as ETH.
Coinbase analysts also maintained a positive perspective for cryptography during the second half of the year, driven by the favorable macroeconomic backdrop, potential tariffs cuts by the Federal Reserve and increasing regulatory clarity in the United States with laws that advance the legislation for stabilizing nations and the broader cryptographic market structure.
Even so, the next two months could be mediocre, Bitfinex analysts warned. The next quarter as of July has historically been the weakest for Bitcoin, with an average of only 6% profits since 2013, they said in a Monday report.
“Here is also where the average volatility is subjected, which adds to our price action bias attached to the range that continues for a longer time,” said the authors.
