Wolfe Research has declared the current market phase as a 'crypto winter,' highlighting a significant downturn in major cryptocurrencies. Key assets such as Bitcoin, Ethereum, and XRP are exhibiting weak technical indicators, with their prices falling below crucial moving averages. Analyst Rob Ginsberg notes that most leading cryptocurrencies are nearing their 52-week lows, predicting Bitcoin could drop to $75,000 and Ethereum to $2,600. The market pressure is compounded by a broader decline in stock markets.