What you really need to know:
- The crypto market is officially in bear mode, with deep losses and stagnation coming up—thanks, Coinbase Institutional!
- Bitcoin falling below its 200-day moving average? Yep, that’s a major clue that crypto winter is here. 🥶
- Standard bear market metrics are cute, but they don’t capture the unique chaos of the crypto space, says Coinbase.
Ah, the good old days of crypto bull runs… gone. According to Coinbase’s institutional team, we’re heading into a long and frigid crypto winter, full of losses and stagnation. Perfect timing, right? ❄️
David Duong, the global head of research at Coinbase Institutional, had this to say on Monday: “The 200DMA model on Bitcoin indicates that its recent nose dive officially signals the start of a bear market from late March. But when you look at the COIN50 index (which tracks the top 50 tokens by market cap), the bear market has been playing out since February. Sorry, folks, it’s not just Bitcoin.” 🎭
Bitcoin broke through its 200-day simple moving average (SMA) on March 9, and it hasn’t looked back since. For the crypto traders, this is like a cold slap to the face—no more sunlit gains. The 200-day SMA is the market’s favorite indicator for long-term trends: if Bitcoin stays below it, we’re officially in bear territory. 🐻
Duong wasn’t shy about his thoughts on identifying bear markets in crypto. In the crypto world, 20% corrections are as normal as a Tuesday morning. But in the stock market, a 20% dip signals bear market territory. Go figure. 🤷♂️
But here’s the kicker: 20% corrections don’t always match the real mood of the market. Smaller but sharper sell-offs can really rattle investors, driving them to adjust their portfolios. “Bear markets are more about shifting the market’s rhythm,” Duong explains, “It’s about the fundamentals decaying and liquidity drying up—not just a percentage drop.” Dramatic much? 😏
Along with the 200-day SMA, Duong pointed to bitcoin’s performance in z-scores (don’t ask, just know it’s a fancy way of measuring risk). The data says the latest bull run peaked in February, and since then, it’s been all downhill. The market’s been “neutral,” but who are we kidding—it’s about as exciting as watching paint dry. 🖌️
things might not suck as much. Yay? 🥳
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2025-04-16 11:54