The trade war may ease until 2025, potentially driving structural differentiation in the cryptocurrency space. Improvements in Sino-U.S. economic and trade relations may accelerate the compliance of blockchain technology, deepen application scenarios such as cross-border payments and supply chain finance, and empower the value of mainstream tokens; the stabilization of U.S. dollar liquidity may weaken the short-term speculative nature of cryptocurrencies, but long-term institutional allocation demand may increase due to a warming risk appetite. If global industrial chain collaboration enhances, DeFi (Decentralized Finance) may become a supplementary tool for cross-border capital flows, and the regulatory framework for stablecoins may become clearer. The geopolitical game is shifting towards technological competition, and privacy coins and the Web3 sector may face policy suppression. By 2025, the cryptocurrency space will rely more on technological iteration and compliance progress rather than being driven by macro risk-hedging narratives.