In 2025, the fading wealth effect is prompting a shift towards long-term investing, as decentralization encounters fresh challenges. Ethereum is advancing towards Layer 1 scaling and enhancing privacy features, while institutions such as DTCC are increasingly bringing assets on-chain. This year has seen a divergence in profit strategies between retail and institutional investors, with centralized exchanges adopting more conservative approaches following the events of October 11, impacting capital efficiency. The introduction of Bitcoin spot ETFs and Digital Asset Tokens (DAT) is confirming evolving market dynamics. Current support and resistance levels are now indicative of deeper structural changes in governance and the centralization of infrastructure, reflecting a significant shift in the cryptocurrency landscape.