Coinbase Warns of Emerging Crypto Winter as Macroeconomic Pressure Mounts

Coinbase Research has issued a warning that the crypto market may be entering another downturn, echoing the sharp decline experienced in late 2021 and early 2023. David Duong, Coinbase’s head of institutional research, highlighted several red flags suggesting bearish momentum is on the rise. Notably, both Bitcoin and the Coinbase COIN50 index have dipped below their 200-day moving averages, a technical threshold often seen as signaling a shift from bullish to bearish market sentiment.