Coinbase Institutional Sees Three Catalysts to Lift Crypto in Q4 2025

Coinbase Institutional's Q4 2025 report highlights three catalysts that could lift crypto: liquidity and macro, policy, and market plumbing. The firm anticipates two Federal Reserve rate cuts and stablecoin supply and volumes at record levels. Bitcoin is favored as a "digital gold" and ether is seen as constructive due to scaling progress and improved sentiment. However, the report warns of near-term hazards such as missing US data and uncertainty around digital-asset treasury companies.

Coinbase Institutional's Q4 2025 report identifies three key catalysts that could drive the growth of the crypto market: liquidity and macroeconomic factors, policy developments, and improvements in market infrastructure. The report anticipates two Federal Reserve rate cuts and expects stablecoin supply and volumes to reach record levels. Bitcoin is favored as a "digital gold," while ether is seen as constructive due to scaling progress and improved sentiment.

The report highlights the potential impact of liquidity and macroeconomic factors, noting that increased liquidity and favorable macroeconomic conditions could boost the crypto market. Additionally, policy developments are expected to be supportive, with the report anticipating two Federal Reserve rate cuts. The report also expects stablecoin supply and volumes to reach record levels, which could further drive growth.

However, the report also warns of near-term hazards, such as missing US data and uncertainty around digital-asset treasury companies. These factors could pose challenges for the crypto market in the short term.

Overall, Coinbase Institutional's Q4 2025 report provides a comprehensive overview of the potential catalysts for crypto growth and the challenges that the market may face in the coming quarters.