Gray Scale: The demand for value storage and clear regulations will drive the crypto bull market, and Bitcoin may reach a new high in the first half of next year.

On December 30th, Grayscale’s research department released the 2026 Crypto Market Outlook report, which states that the demand for store of value and clearer regulation are driving the next bull market in cryptocurrencies in 2026. The continuously rising government debt, ongoing fiscal deficits, and concerns over fiat currency devaluation are prompting investors to look beyond traditional assets. On the other hand, Grayscale expects that after delays caused by political deadlock and government shutdowns, the U.S. Cryptocurrency Market Structure Act will gain bipartisan support and make progress in early 2026. Although the bill failed to pass in 2025, the momentum has now resumed, and lawmakers from both parties are interested in establishing clearer federal rules for digital assets. Therefore, Grayscale anticipates that valuations will rise in 2026, and the so-called “four-year cycle” will also come to an end. Bitcoin prices are likely to hit a new all-time high in the first half of this year.