Cryptocurrency Market Pullback Amid Uncertainty Over Bottoms
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 hours ago
0mins
Should l Buy COIN?
Source: Benzinga
- Market Pullback: Bitcoin reversed after Wednesday's relief rally, with trading volume dropping 22% over the past 24 hours, indicating weakened market sentiment that could undermine investor confidence and lead to further sell-offs.
- Ethereum Performance: Ethereum sharply fell in early trading but recovered later, with its Market Value to Realized Value ratio dropping to 0.78, a level historically signaling market bottoms, potentially attracting investor interest.
- Market Liquidation: Over $240 million was liquidated from the market in the last 24 hours according to Coinglass, primarily affecting bullish long traders, reflecting extreme fear sentiment prevailing in the market.
- Market Capitalization Changes: The global cryptocurrency market capitalization reached $2.26 trillion, increasing by 3.02% in the last 24 hours, despite major cryptocurrencies losing market share, highlighting the volatility and uncertainty in the market.
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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: 183.940
Low
230.00
Averages
361.63
High
440.00
Current: 183.940
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 cryptoeconomy; 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. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
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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- Market Pullback: Bitcoin reversed after Wednesday's relief rally, with trading volume dropping 22% over the past 24 hours, indicating weakened market sentiment that could undermine investor confidence and lead to further sell-offs.
- Ethereum Performance: Ethereum sharply fell in early trading but recovered later, with its Market Value to Realized Value ratio dropping to 0.78, a level historically signaling market bottoms, potentially attracting investor interest.
- Market Liquidation: Over $240 million was liquidated from the market in the last 24 hours according to Coinglass, primarily affecting bullish long traders, reflecting extreme fear sentiment prevailing in the market.
- Market Capitalization Changes: The global cryptocurrency market capitalization reached $2.26 trillion, increasing by 3.02% in the last 24 hours, despite major cryptocurrencies losing market share, highlighting the volatility and uncertainty in the market.
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- Bill Progress: While SBF's noise masks real legislative momentum, Senate Democrats convened to discuss the CLARITY Act ahead of a March 1 deadline, and its passage could significantly impact Coinbase's stablecoin revenue.
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- Ethereum Performance: Ethereum sharply fell in early trading but recovered later, with its Market Value to Realized Value ratio dropping to 0.78, a level historically signaling market bottoms, potentially attracting investor interest.
- Market Liquidation: Over $240 million was liquidated from the market in the last 24 hours according to Coinglass, primarily affecting bullish long traders, reflecting extreme fear sentiment prevailing in the market.
- Market Capitalization Changes: The global cryptocurrency market capitalization reached $2.26 trillion, increasing by 3.02% in the last 24 hours, despite major cryptocurrencies losing market share, highlighting the volatility and uncertainty in the market.
See More
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