The cryptocurrency market is currently experiencing a notable downturn, according to Coinbase, leading the company to suggest we might be entering another period known as a ‘crypto winter.’ This term refers to prolonged periods of bearish market sentiment characterized by declining prices and low trading volume. analysis from Coinbase sheds light on several factors that are contributing to this recent market decline. The total crypto market cap (excluding Bitcoin) has fallen dramatically, reaching $950 billion – down 41% since December 2024’s peak of over $1.6 trillion. This signifies a notable slide from previous periods in late 2021 and early 2022 when the market was already exhibiting fragility.