Galaxy Research annual forecast: BTC will exceed $150,000 in the first half of the year, and ETH will exceed $5,500

PANews reported on December 28 that Galaxy Research released a forecast report for 2025, covering Bitcoin and Ethereum prices, DOGE, stablecoins, DeFi, L2s, policy, VC, etc. The details are as follows:

1. Bitcoin will break through $150,000 in the first half of the year and test or reach $185,000 in the fourth quarter of 2025.
2. By 2025, the asset management scale of U.S. spot Bitcoin ETPs will exceed $250 billion.
3. In 2025, Bitcoin will once again be one of the best risk-adjusted performers among global assets.
4. At least one top wealth management platform will announce a recommendation for a Bitcoin allocation of 2% or higher.
5. Five Nasdaq 100 companies and five nation-states will announce they will add Bitcoin to their balance sheets or sovereign wealth funds.
6. Bitcoin developers will reach consensus on the next protocol upgrade in 2025.
7. More than half of the top 20 publicly traded Bitcoin miners by market cap will announce transitions or partnerships with hyperscale providers, artificial intelligence or high-performance computing companies.
8. Bitcoin DeFi (identified as the total amount of BTC locked in DeFi smart contracts and deposited into staking protocols) will almost double by 2025.
9. Ethereum will trade above $5,500 in 2025.
10. The Ethereum pledge rate will exceed 50%.
11. The ETH/BTC ratio will be below 0.03 in 2025, but will be above 0.06 by the end of the year.
12. In 2025, L2 as a collective will generate more economic activity than Alt L1.
13. DeFi will enter a “dividend era” as on-chain applications distribute at least $1 billion in nominal value to users and token holders from treasury pools and revenue sharing.
14. On-chain governance will see a resurgence, and applications will experiment with future governance models.
15. In 2025, the world's four major custodian banks will custody digital assets.
16. There will be at least ten stablecoins launched supported by TradFi partners.
17. By 2025, the total supply of stablecoins will double to over $400 billion.
18. Tether’s long-standing market dominance will fall below 50%, challenged by yield alternatives like Blackrock’s BUIDL, Ethena’s USD e, and even Coinbase/Circle-paid USDC rewards.
19. Total crypto venture capital will exceed $150 billion, a year-on-year increase of more than 50%.
20. Stablecoin legislation will pass both houses of Congress and be signed by President Trump in 2025, but market structure legislation will not.
21. The U.S. government will not purchase Bitcoin in 2025, but will use the Bitcoin it already holds to build reserves. Various departments and agencies will also take internal actions to study policies to expand Bitcoin reserves.
22. The U.S. Securities and Exchange Commission will launch an investigation into Prometheum, the first so-called "special purpose broker-dealer."
23. Dogecoin will eventually reach $1, and the market cap of the world's largest and oldest memecoin will reach $100 billion.