Coinbase Stock Plummets Over 5% Ahead of Earnings Report
- Significant Stock Decline: Coinbase's stock price retreated over 5% on Wednesday, plummeting from its 2025 high of $445 to $154, resulting in a market cap drop from nearly $100 billion to $41 billion, reflecting pessimism about its future performance.
- Analyst Target Reductions: JPMorgan cut its price target from $399 to $290, while Cantor Fitzgerald lowered its target from $277 to $221, indicating analysts' concerns about Coinbase's profitability amid the ongoing crypto market downturn.
- Transaction Volume Drop: Coinbase's retail transaction volume fell by 15%, primarily due to declines in Bitcoin and other altcoins, which could significantly reduce its transaction revenue, impacting overall financial performance.
- Bleak Future Outlook: Analysts expect Coinbase's Q4 revenue to drop to $1.84 billion, down 78% year-over-year, and even with the acquisition of Deribit, annual revenue may decline by 19.1%, highlighting the profound effects of the ongoing crypto market slump on its performance.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 40818.203 | 50409.102 | 60005.013 | 69595.912 | 79191.823 | 88782.722 | 98378.633 |
| Fibonacci | 50409.102 | 57738.463 | 62266.55 | 69595.912 | 76925.273 | 81453.36 | 88782.722 |
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