The crypto market's been flooded with catalysts this year, and a lot of them trace back to recent policy shifts. With new administration moves in play, we're seeing unprecedented activity across the space—but not everyone's optimistic about what comes next.

One analyst breakdown suggests the current momentum might be masking deeper structural challenges. The thinking? 2025's been packed with external drivers that've kept sentiment elevated. Policy announcements, regulatory clarity attempts, institutional interest spikes—all happening simultaneously.

But here's the kicker. According to market observers, 2026 could present a different animal entirely. Without the same volume of fresh catalysts and policy tailwinds, the market might face headwinds that look harsh by comparison.

The argument being floated: we're frontloading a lot of good news into one cycle. Once those policy moves settle in and become "business as usual," what's the next thing fueling prices higher? That's the question keeping some seasoned traders up at night.

Worth watching: how sustainable the current momentum really is once the novelty of regulatory clarity starts wearing off.