Bitcoin is facing a complex landscape in 2025, marked by regulatory hurdles and strengthening long-term fundamentals. In the U.S. and Brazil, new regulatory measures are increasing operational challenges, particularly impacting smaller firms. However, the introduction of the GENIUS and CLARITY bills is providing clearer regulatory frameworks, which are encouraging institutional investment. Despite these challenges, Bitcoin's resilience is supported by macroeconomic trends and increased institutional adoption. The cryptocurrency's negative correlation with the U.S. dollar and reduced OTC liquidity are influencing its price dynamics. Additionally, investor behavior is shifting from retail speculation to more disciplined, institutional-driven cycles, highlighting a maturation in the market.