PANews 7月17日消息，CoinGecko发布《2025年第二季度加密行业报告》，指出2025年第二季度加密货币总市值反弹24.0%至3.5万亿美元，接近年初至今高点；比特币重返10万美元以上，本季度创历史新高，市值占比提升至62.1%；该季度以太坊价格从1805美元跃升至2488美元，但仍低于2025年开盘价3337美元；2025年加密货币行业首次重大IPO——Circle超额认购25倍，股价最高达299美元，较IPO价格上涨864.5%；尽管市场反弹，2025年第二季度中心化交易所现货交易量环比下降27.7%至3.9万亿美元；相比之下，去中心化交易所现货交易量环比增长25.3%，创DEX:CEX交易量比历史新高；2025年第二季度去中心化交易所永续合约交易量也创历史新高，达8980亿美元。

<p>PANews 7月17日消息，CoinGecko发布《2025年第二季度加密行业报告》，指出2025年第二季度加密货币总市值反弹24.0%至3.5万亿美元，接近年初至今高点；比特币重返10万美元以上，本季度创历史新高，市值占比提升至62.1%；该季度以太坊价格从1805美元跃升至2488美元，但仍低于2025年开盘价3337美元；2025年加密货币行业首次重大IPO——Circle超额认购25倍，股价最高达299美元，较IPO价格上涨864.5%；尽管市场反弹，2025年第二季度中心化交易所现货交易量环比下降27.7%至3.9万亿美元；相比之下，去中心化交易所现货交易量环比增长25.3%，创DEX:CEX交易量比历史新高；2025年第二季度去中心化交易所永续合约交易量也创历史新高，达8980亿美元。</p>

报告：Q2加密货币总市值激增24%，CEX现货交易量环比下降27.7%

<PANews> On July 17th, CoinGecko released the "Q2 2025 Crypto Industry Report", pointing out that the total cryptocurrency market value rebounded by 24.0% to $3.5 trillion in the second quarter of 2025, approaching the year-to-date high; Bitcoin returned to over $100,000, reaching a historical high this quarter, with its market share increasing to 62.1%; Ethereum's price jumped from $1,805 to $2,488 this quarter, but still lower than the opening price of $3,337 in 2025; The first major IPO in the cryptocurrency industry in 2025 - <Circle> was oversubscribed 25 times, with its stock price reaching a high of $299, an increase of 864.5% from the IPO price; Despite the market rebound, spot trading volume on centralized exchanges decreased by 27.7% quarter-on-quarter to $3.9 trillion in the second quarter of 2025; In contrast, spot trading volume on decentralized exchanges grew by 25.3% quarter-on-quarter, creating a historical high for the DEX:CEX trading volume ratio; Perpetual contract trading volume on decentralized exchanges also reached a historical high of $89.8 billion in the second quarter of 2025.

<p>PANews reported on July 17th that CoinGecko released the "Q2 2025 Crypto Industry Report", pointing out that the total cryptocurrency market value rebounded by 24.0% to $3.5 trillion in the second quarter of 2025, approaching the year-to-date high; Bitcoin returned to over $100,000, reaching a historical high this quarter, with its market share increasing to 62.1%; Ethereum's price rose from $1,805 to $2,488 during the quarter, but remained below the opening price of $3,337 in 2025; the first major IPO in the cryptocurrency industry in 2025 - Circle was oversubscribed 25 times, with its stock price reaching a high of $299, an increase of 864.5% from the IPO price; despite the market rebound, centralized exchange spot trading volume decreased by 27.7% quarter-on-quarter to $3.9 trillion in Q2 2025; in contrast, decentralized exchange spot trading volume increased by 25.3% quarter-on-quarter, creating a historical high for the DEX:CEX trading volume ratio; decentralized exchange perpetual contract trading volume also reached a historical high of $89.8 billion in Q2 2025.</p>

Report: Total cryptocurrency market value surged 24% in Q2, CEX spot trading volume fell 27.7% month-on-month

Following the controversy surrounding Fundstrat's Bitcoin views, co-founder Tom Lee responded, stating that the "contradictory predictions" seen by outsiders were actually research conclusions from different positions and timelines, not internal disagreements. Previously, Sean Farrell, head of digital asset strategy at Fundstrat, suggested that Bitcoin might retrace to the $60,000-$65,000 range in the first half of 2026; while Tom Lee believed Bitcoin could reach new highs, even surging to $200,000 as early as the beginning of 2026. A Fundstrat...

Tom Lee responds to Fundstrat's "contradictory" views on Bitcoin: Different positions, different timelines, not internal disagreements.

Next Week's Key Preview

December 22nd

Aster: Phase 5 airdrop will begin on December 22nd and last for 6 weeks;

Espresso will open airdrop registration on December 22nd;

December 23rd

The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23rd;

December 24th
U.S. and European stock markets will be closed for Christmas, and whether a "Christmas rally" will materialize remains uncertain;

The U.S. will release initial jobless claims for the week ending December 20th;...

Must-watch items next week: US Bureau of Economic Analysis to release Q3 GDP data; Aster launches fifth phase of airdrop (December 22-28).

Source: Galaxy Research
Translation: Jinse Finance
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakout after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged liquidations, and the actions of whale...