Arkstream Capital reports that the 2025 crypto market is transitioning from a focus on single blockchain technology cycles to a phase dominated by external variable pricing and financial entry competition. This shift is marked by the role of ETFs in addressing portfolio inclusion and IPOs in determining asset benchmarks and exit strategies. While the traditional four-year crypto cycle remains, its influence is diluted as ETFs, stablecoins, and corporate treasuries integrate larger funds into observable and rebalanced asset allocation systems.