Coinbase Predicts Timeline for Ending the Current Crypto Winter

The trade war and the potential for its escalation have triggered a new «crypto winter,» while remaining optimistic for the latter half of 2025 is advisable. This is highlighted in a report by Coinbase.

Analysts have observed a shift to a bear market following the stabilization of Bitcoin and the COIN50 index, which reflects price fluctuations among the top 50 cryptocurrencies, below their 200-day moving average (DMA).

Experts noted the pressures from the macroeconomic environment where traditional risk assets are encountering challenges due to tightening fiscal and tariff policies. In such circumstances, the path to recovery for cryptocurrencies remains complicated, even considering the enhanced regulatory landscape, Coinbase analysts added.

In their view, adopting a «defensive stance» in anticipation of bottom formation by the end of the second quarter is recommended over the next four to six weeks.

According to QCP Capital, Bitcoin options expiring before June are dominated by put options, as traders hedge their positions fearing that the U.S.-China tariff war may bring unforeseen «surprises.»

It is important to note that the cryptocurrency market could reach a local bottom before June, and the direction thereafter will largely depend on the outcomes of negotiations between the U.S. and its main trading partners regarding tariffs, as suggested by Nansen.

Previously, Compass Point analyst Ed Engle and experts from Bravos Research reached similar conclusions regarding the potential for growth in the price of digital gold amid changes in the M2 money supply.