Coinbase Warns of Potential Crypto Winter: Could a Market Downturn Be Brewing?

Cryptocurrency platform Coinbase has issued a warning about the possibility of a new crypto winter, with technical indicators and macroeconomic factors raising concerns. While the current slump echoes the 2021-2023 downturn, Coinbase predicts a market recovery may begin in the second half of 2025. The company’s research note by David Duong, Head of Institutional Research at Coinbase, highlights several warning signs pointing towards a prolonged bearish phase. One notable factor is the technical breakdown of both Bitcoin and the Coinbase COIN50 index below their 200-day moving averages, signaling a potential shift in market momentum.