Let’s talk straight,this crypto market, it’s caught a chill. And not the kind you shake off with a hot espresso.
We’re talking about the kind of cold that seeps into your bones, the kind that makes even the toughest Bitcoin hodler shiver.
Coinbase just dropped a report that’s got everyone in the game looking over their shoulders.
Winter is coming?
The total crypto market cap, excluding the heavyweight champ, Bitcoin, has plummeted to $950 billion.
That’s a 41% crash from its December high of $1.6 trillion. We’re talking numbers that are even lower than what we saw back in the good old days of 2022, when people still believed altcoins were going to the moon. Now? The only thing going up is the anxiety.
You want technicals? We got technicals, like both Bitcoin and the COIN50 index, the top 50 tokens by market cap just crashed through their 200-day moving averages. In this business, it’s a siren blaring in the dead of night.
Historically, when you see that, it means the party’s over and the bear’s in the room, raiding your fridge.
Night watch
And don’t even get me started on the venture capital crowd. Remember when they were throwing money at crypto projects like confetti at a wedding?
Those days are gone. Funding is still down 50-60% from the wild heights of 2021-22, even though there’s been a tiny uptick in early 2025. For all those altcoin projects that need fresh cash to keep the lights on, it’s looking like a long, cold winter night.
Why the gloom? Blame it on the usual suspects, global tariffs are back, fiscal policies are tighter than a loan shark’s grip, and the stock market isn’t exactly throwing a celebration either.
Investors are scared, capital is running for cover, and the only thing hot is the famous/infamous Fear&Greed Index, which is screaming “Extreme Fear” like a banshee.
Signals
But hey, it’s not all doom and gloom. David Duong, Coinbase’s research boss, says there’s a shot at stabilization in mid-to-late Q2 2025.
Maybe, just maybe, things will thaw out by Q3. But until then? Keep your head down, and don’t bet the house on a miracle comeback. Markets go through cycles, bulls, bears, and everything in between.
But right now, the signals are clear, if you’re waiting for a rocket ship, you might want to check if it’s grounded for maintenance.
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