Grayscale: The market pullback in September is temporary, and the crypto market may be heading towards new highs.

【Grayscale: The September market pullback is temporary, and the crypto market may be heading towards new highs】Grayscale Research recently published an article stating that the crypto bull market is driven by macro demand for scarce digital assets and regulatory clarity that supports adoption. These two factors are likely to become the focus of investor attention again in the fourth quarter of 2025. Currently, the fundamentals still point in a positive direction, as the Fed restarted interest rate cuts in September and hinted at possibly lowering rates one to two more times before the end of the year. Other positive market catalysts include: the potential introduction of Staking features for crypto ETPs, more altcoin ETP listings, and the Senate passing the market structure bill. Grayscale believes that until these factors change, the September market pullback is merely temporary, and the crypto market may be moving towards new highs.