Bitcoin Drops Below $64,000 as Market Fear Intensifies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Source: Benzinga
- Bitcoin Plummets: Bitcoin has slipped below $64,000, marking a nearly 50% decline from its all-time high set in October, indicating a sharp deterioration in market sentiment due to new global tariffs and AI disruption fears.
- Ethereum Trading Volume Surge: Ethereum dropped to an intraday low of $1,813, with trading volume soaring by 86% in the last 24 hours, reflecting a strong reaction from investors to the market volatility.
- Severe Market Liquidations: According to Coinglass, over $466 million was liquidated from the market in the last 24 hours, with Bitcoin alone accounting for $233 million, highlighting the high leverage risks and instability in the market.
- Fear Sentiment Spreads: The Crypto Fear & Greed Index indicates that market sentiment has plunged into “Extreme Fear,” suggesting increasing investor anxiety about future price movements, which may lead to further sell-offs.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 164.840
Low
230.00
Averages
361.63
High
440.00
Current: 164.840
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the onchain economy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. The Company offers products and services to various customer groups: consumers, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime trading, markets, base protocol and Coinbase wallet. The Company also provides market infrastructure in the form of exchanges for customers to trade spots and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Positive Market Reaction: Following this announcement, Coinbase's stock (COIN) rose by 3.27% to $168.60 during morning trading on Monday, indicating optimistic market expectations for the new product, which could enhance the company's overall market value.
- Investment Risk Opportunities: Coinbase previously allowed traders to speculate on SpaceX's future share prices through similar pre-IPO perpetual futures, providing investors with new risk investment opportunities that may attract increased trading volume.
- Industry Trend Leadership: As the SEC is expected to allow crypto firms to offer tokenized stock trading, Coinbase's initiative not only meets market demand but could also bridge the gap between cryptocurrency and traditional financial markets, enhancing its competitive position.
See More
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- High-Frequency Contracts: Notably, the $380 strike call option saw 24,724 contracts traded today, representing about 2.5 million shares of Microsoft stock, reflecting strong market expectations for future price increases.
- Coinbase Options Activity: Coinbase Global Inc's options trading volume stood at 45,701 contracts, equivalent to approximately 4.6 million shares, accounting for about 52% of its average daily trading volume over the past month, highlighting investor interest in its future performance.
- High-Frequency Contract Analysis: Within Coinbase, the $165 strike call option recorded a trading volume of 1,948 contracts today, representing around 194,800 shares, indicating bullish sentiment in the market regarding this stock.
See More
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- Danaher Faces Challenges: Danaher (DHR) has experienced a 10.6 percentage point decline in operating margin over the past five years, as rising costs outpace revenue growth, resulting in flat earnings per share compared to peers; its current share price of $178.03 reflects a forward P/E of 20.4, highlighting investment risks.
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- Market Dynamics Shift: While Flowers Foods and Danaher face growth challenges, Coinbase's strong performance suggests that high-quality stocks can still attract investor interest amid changing market conditions, reflecting ongoing demand for premium companies.
See More
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- SpaceX Bond Launch: SpaceX initiated its first bond offering since its IPO, with shares plummeting 16% amid concerns over financial health, which could impact future fundraising capabilities as the company did not disclose pricing or target amounts.
- Divergent Market Performance: The S&P 500 fell 0.4% and the Nasdaq 100 dropped 0.2%, while the Dow Jones rose 0.3%, indicating investor caution towards tech stocks, with the Dow benefiting from lower oil prices, highlighting significant sector disparities.
- International Developments: The U.S. and Iran agreed on a 60-day roadmap for peace and allowed Iran to sell oil internationally, easing war-related market jitters, which contributed to a decline in oil prices, with Brent crude futures closing at $77.90 per barrel.
- Investor Focus on Data: This week, investors will shift their attention to the personal consumption expenditures price index and the Fed's inflation gauge, which are expected to influence market sentiment, especially with Micron Technologies set to release quarterly results, reflecting ongoing demand for storage and memory.
See More
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- Ethereum Holdings: Bitmine currently holds 4,718,677 staked ETH, valued at approximately $8.2 billion based on current prices, which not only solidifies its position within the Ethereum ecosystem but also lays a strong foundation for future growth.
- Investor Support: The company is backed by notable institutional investors, including Cathie Wood from ARK and Bill Miller III, reflecting market confidence in its goal to acquire 5% of Ethereum, thereby enhancing its market influence.
- Total Asset Value: Bitmine's total assets, including cryptocurrencies, cash, and marketable securities, amount to $10.7 billion, comprising 5.67 million ETH tokens and $601 million in cash, providing ample financial support for future expansion.
- Market Position: As a leading Ethereum staking platform, Bitmine's Series A preferred shares are traded on the NYSE, symbolizing its significant position in the cryptocurrency market and offering new investment opportunities for institutional investors.
See More
Bitmine Holds 4.7% of Total ETH Supply
- ETH Holdings: Bitmine currently holds 4.7% of the total ETH supply, equating to 4,718,677 ETH valued at approximately $8.2 billion, positioning it significantly within the cryptocurrency market.
- Investment Goal: In just 11 months, Bitmine has achieved 94% of its target to acquire 5% of the total ETH supply, a strategic objective that will further enhance its market influence.
- Total Asset Value: Bitmine's total assets, including cryptocurrencies, liquid funds, and tradable securities, amount to $10.7 billion, comprising 5.67 million ETH and $601 million in liquid assets, showcasing its robust financial foundation.
- Institutional Support: Bitmine has garnered backing from prominent institutional investors, including ARK's Cathie Wood and Pantera, which not only boosts market confidence but also provides a strong foundation for its long-term investment strategy.
See More
