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Coinbase’s latest report warns of a potential ‘crypto winter’ as key technical indicators and declining valuations signal a bearish turn. The total crypto market cap, excluding Bitcoin, has plunged 41% since its peak in December 2024. Broader macroeconomic challenges and reduced venture capital investment further exacerbate the fragile outlook.
- The total crypto market cap (excluding Bitcoin) has fallen 41% since December 2024, signaling a potential 'crypto winter.'
- Bitcoin and the COIN50 Index have broken below their 200-day moving averages, a key technical indicator of long-term bearish momentum.
- Coinbase advises a defensive short-term stance but anticipates a potential market bottom by Q2 2025, with recovery prospects in Q3.
📎 Related coverage from: cryptoslate.com