Coinbase: "Cryptocurrencies may be entering a bear market"

David Duong, global head of research at major cryptocurrency exchange Coinbase, released a report on the 15th, stating that cryptocurrencies may have entered a bear market.

After explaining the reasons for his view, he argued that caution is needed, although it will likely be for a short period of about four to six weeks. On the other hand, Coinbase still believes that sentiment (market psychology) will completely change and the market will turn upward in the second half of 2025.

The reason Duong pointed out the possibility of a bear market is that the price of Bitcoin (BTC) and Coinbase's proprietary index "COIN50" are at a 200-day moving average...