Coinbase research points out that both Bitcoin and COIN50 index have fallen below their respective 200 day moving averages, indicating that the market may be in the early stages of a long-term downward trend. This is consistent with the trend of declining total market value and shrinking venture capital, both of which are important characteristics of the possible "crypto winter". It is recommended to maintain a defensive risk management strategy at this stage. Although it is still expected that cryptocurrency prices will stabilize in the mid to late second quarter of 2025 and lay the foundation for improvement in the third quarter. But currently, the complex macro environment still requires investors to remain highly cautious. read the whole passage: https://mp.weixin. (qq.com)/s/ijYng5jO5cwaT3UFfE7moA