Still paying attention to Bitcoin's rise and fall? Then your perspective and vision are too narrow. The crypto market in 2025 is not just an ordinary cycle rotation, but a true turning point—a structural reshaping driven from retail speculation to institutional capital dominance. To seize the opportunity, you must first understand these 11 core trends.

Let's look at the first change: institutional giants have already taken over the market. I’ve been tracking this data, and the institutional holdings in BTC ETFs tell a clear story—major asset management firms account for 57%, hedge funds for 41%, together nearly 98%. In other words, the market players have long changed, and professional investment institutions are the real price setters.

The second trend not to ignore is the tokenization of physical assets (RWA), which has shifted from hype to real assets. By October, the total market cap of RWA tokens has surpassed $23 billion, quadrupling year-over-year. Giants like BlackRock and JPMorgan have already moved RWA infrastructure from testing to production. The boundary between on-chain and off-chain assets is gradually dissolving.

The third trend is even more interesting: the integration of AI and crypto has moved from hype to real applications. Previously, most discussions of AI + Crypto were just conceptual hype. But this year, genuine infrastructure-level projects have emerged—such as AI-based on-chain risk control systems and smart market-making strategies. These are not fancy ideas but solutions to real pain points in the crypto market.

In the fourth trend, the differentiation in the L2 market is becoming more apparent, showing a typical winner-takes-all pattern, which will profoundly change the resource flow within the entire ecosystem.