Policy & Regulation
US: Trump's Pro-Crypto Policy
Global attention shifted to the US after President Trump implemented a series of crypto-friendly policies, including a drop in prosecution by the SEC and the dismantling of a crypto-specific enforcement unit at the DOJ, thus attracting companies such as Deribit and OKX to re-enter the US market.
In addition, Trump signed a law to cancel the expansion of the definition of "broker" by the IRS that had included DEX, reducing concerns about excessive tax reporting
In March 2025 he also formed the Strategic Bitcoin Reserve as a national reserve asset, utilizing Bitcoin from Treasury confiscation worth around 200,000 BTC
UK: Loan Restrictions for Crypto Investment
The Financial Conduct Authority (FCA) proposes a ban on retail investors using loan funds—including credit cards—to buy crypto, with the aim of strengthening consumer protection against liquidity risks and market manipulation.
This step also includes the implementation of credit checks and investment experience assessment for crypto lending activities, although institutional investors will still have access
Main Market Movement
Bitcoin Uphill and ETF Inflows
Bitcoin continues to strengthen its position as "digital gold": market dominance reaches 64%, the highest since 2021, as the Bitcoin ETF launched 15 months ago brings significant institutional capital flows
Charles Schwab reports a spike in client interest in spot crypto trading for Bitcoin & Ethereum, and plans to launch the service in the next 12 months
Token Unlocks: Big Volatility in Front of Your Eyes
More than $4.4 billion worth of tokens will be unlocked by May 2025—covering major projects such as Aptos, Arbitrum, Sui, and StarkNet—which has the potential to trigger volume spikes and sharp price fluctuations as new supplies enter the market.
Analysis & Prospects
US vs UK regulation: The looser US decision has the potential to make America a global crypto center, while the UK puts forward the consumer protection aspect—this difference can create intercontinental regulatory arbitration.
Volatility Unlocks Tokens: Investors must be alert on big unlock dates; hedging or scaling in/out strategies are recommended to manage risk.
ETF Momentum: Institutional inflows are likely to push BTC price towards a psychological level of $100,000 in the next few months.
Conclusion
Today the crypto sector shows a double dynamic: regulations in the US are more friendly, encouraging institutional adoption, while in the UK regulators are tightening to protect retail. In the market, Bitcoin and ETF lead the bullish narrative, but massive unlocks tokens in May are ready to present sharp fluctuations. Traders and investors are advised to adjust their portfolios with short-term and long-term risk horizons (token unlocks) and long-term (ETF & US policy).
