This article is jointly published by K1 Research & Klein Labs
2025 Monthly Event Review Calendar source: Klein Labs
Looking back at 2025, this year was not simply a bull or bear market, but a reorientation of the cryptocurrency industry within the multiple coordinates of politics, finance, and technology—laying the foundation for a more mature and institutionalized cycle in 2026.
At the beginning of the year, Trump's inauguration and the digital asset strategic executive order significantly changed regulatory expectations. Meanwhile, $TRUMP token issuance brought cryptocurrencies into the mainstream, market risk appetite rapidly increased, Bitcoin historically broke through $100,000, completing its first leap from a "speculative asset" to a "political and macro asset."
Subsequently, the market quickly faced the backlash of real-world constraints. Celebrity coins declined, the Ethereum "插针" incident, and Bybit experienced an epic