Coinbase's April 15, 2025, report notes a 41% altcoin market cap drop from $1.6T to $950B, with venture capital funding down 50%–60% since 2021–22, hinting at a "crypto winter" due to global tariffs and macro uncertainty. Caution is advised for 4–6 weeks, but a recovery is expected in late 2025. Bitcoin’s Z-score and 200-day moving average indicate a bear market since February/March, though Bitcoin’s influence as a market indicator is fading as crypto diversifies. Bitcoin shows resilience, but broader market analysis is needed.
