#CanadaSOLETFLaunch #MetaplanetBTCPurchase #WCTonBinance #BitcoinWithTariffs #BinanceAlphaAlert $BTC $ETH $XRP Altcoin Market 41% Drop Signals Possible Crypto Winter: Coinbase

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Coinbase Research Warns of Potential New Crypto Winter

A recent report by Coinbase Research suggests that the sharp 41% drop in cryptocurrency market capitalization (excluding Bitcoin) from its December 2024 peak of $1.6 trillion to $950 billion by mid-April 2025 may be signaling the onset of a new crypto winter.

Uncertainty Fuels Market Hesitation

This decline places the non-Bitcoin crypto market not only 17% lower year-over-year, but also below levels seen during the August 2021 to April 2022 correction, reinforcing concerns of a prolonged downturn.

Compounding the situation, venture capital investment in crypto remains 50–60% lower than its peak during the 2021–2022 bull cycle. The Coinbase report notes that this pullback in funding limits the flow of capital into the broader digital asset ecosystem.

The root of the hesitancy, according to the report, lies in macroeconomic uncertainty. Investors are struggling to navigate an environment shaped by fiscal tightening, tariff pressures, and volatile risk asset performance. This, in turn, has led to a marked slowdown in capital deployment and a more cautious investment climate.

“All of these structural pressures stem from the uncertainty of the broader macro environment, where traditional risk assets have faced sustained headwinds from fiscal tightening and tariff policies, contributing to the paralysis in investment decision making. With equities struggling, the path to recovery for crypto remains challenging even with the idiosyncratic tailwinds from the regulatory environment,” the report states.

Ultimately, the report concludes that the interplay of these macro and market-specific factors paints a challenging cyclical outlook for the digital asset space, justifying a continued cautious approach in the short term.