Coinbase: The Era of 'Easy Money' Through Crypto Treasuries Is Over
- The era of easy money in corporate reserves is ending, the market is entering a competitive phase.
- Coinbase points out that the 'September effect' for Bitcoin is illusory.
- Fed rate cuts to support digital asset growth in final quarter of year
The cryptocurrency market enters Q4 2025 with a strong macroeconomic backdrop and growing competition in the Digital Asset Treasuries (DAT) segment, Coinbase analysts said. The company notes that simply copying Strategy no longer brings guaranteed bonuses.
According to analysts, the success of crypto firms increasingly depends on the quality of execution of development plans and the ability to retain capital.
According to the available data, corporate treasuries have already accumulated more than 1 million BTC, almost 5 million ETH, and 8.9 million SOL, reflecting a shift in demand patterns, while Coinbase research highlights that the DAT market has reached a “critical inflection point.”
Early players benefited significantly from the liquidity shortage, but as the market saturated, the premium for owning assets dried up. Now, the development of the sector requires differentiation of strategies and competitiveness, the platform representatives believe.
Analysts David Duong and Colin Basco said that “the days of easy money are over,” and crypto treasuries are now entering a “player versus player” phase. This, they said, creates risks for weak players, but could also be a boon for the overall market.
The regulatory landscape is also changing, the report says. The Nasdaq stock exchange is tightening its requirements for corporate transactions, requiring disclosure and shareholder approval, reflecting concerns about potential risks. Meanwhile, U.S. and European authorities continue to view DAT as a promising tool to increase the transparency and legitimacy of cryptocurrency investments.
Analysts paid special attention to the issue of seasonality. Coinbase researchers emphasized that the “September effect,” when investors traditionally avoided purchases due to the declines of previous years, does not have statistical reliability.
Tests have shown that under current conditions, the month of the year is not a predictor of positive or negative returns for Bitcoin. In 2023 and 2024, this “myth has been definitively disproved,” and seasonal patterns should not be used as trading signals, the company is confident.
The macroeconomic environment remains positive, Coinbase notes. The Federal Reserve is expected to cut rates twice in September and October, creating additional incentives for capital to flow into risky assets.
Historically, rate cuts have helped cryptocurrencies rise, and analysts expect the bullish trend to continue. At the same time, Bitcoin remains the main beneficiary of macroeconomic factors, including rising inflation and high liquidity.
Thus, the crypto market is approaching the end of the year in a state of transformation, the report says. Bitcoin maintains its status as the main asset, while the DAT market is going through a competitive phase. The illusory nature of seasonal patterns and the easing of monetary policy increase expectations that the final quarter of 2025 will be quite productive for digital assets, Coinbase concluded.
Let us recall that Santiment experts believe that FUD on the market could be a signal for new growth in Bitcoin.
Source: cryptonews.net
