According to Coinbase Research, the crypto market has a constructive outlook for the second half of 2025, with Bitcoin (BTC) expected to rally due to several key factors. The report highlights an improving U.S. macroeconomic backdrop, evidenced by the Atlanta Fed’s GDPNow tracker jumping to 3.8% QoQ, which eases recession fears. This, combined with expectations of Federal Reserve rate cuts and declining dollar dominance, is anticipated to boost Bitcoin's appeal as an inflation hedge. While BTC is positioned to benefit from these tailwinds, the report suggests altcoins may lag unless driven by specific catalysts like ETF approvals. Corporate adoption is another positive driver, with more companies adding crypto to their balance sheets under new 'mark-to-market' accounting rules, though this introduces systemic risks related to convertible debt financing. Furthermore, significant regulatory developments, including the GENIUS Act and the CLARITY Act, alongside over 80 pending crypto ETF applications, are expected to provide much-needed clarity and could fuel market growth.