Bitcoin Plunges Below $87K as Crypto Weakness Worsens [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Trading fairly flat just below $90,000 overnight, bitcoin (BTC) plunged to $86,800 in mid-morning U.S. action. Bitcoin's poor relative performance during U.S. market hours suggests at first glance weak demand from American investors, but perhaps it has something to do with the mechanics of the spot bitcoin ETFs that opened for business in January 2024. "Since the iShares Bitcoin ETF IBIT began trading, had you only owned it after hours (buy the close, sell the next open), it's up 222%," Bespoke Investment said in an X post. "Had you only owned intraday (buy the open, sell the close), it's down 40.5%." Crypto stocks also started the week significantly lower with both Strategy (MSTR) and Circle (CRCL) both down about 7%. Coinbase (COIN) fell more than 5% while trading platforms Robinhood (HOOD) and eToro (ETOR) faced smaller declines of about 2%. Brokerage Gemini (GEMI), which soared late last week on approval for adding prediction markets to its offerings, pulled back 10% Monday
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COIN
News
- Brooklyn man, 23, is charged in $15 million Coinbase 'customer-care' scheme [Business Insider]Business Insider
- Bitcoin Bleeding Continues As Cryptocurrency Nears $85,000 [Forbes]Forbes
- Nasdaq, home of Coinbase, Strategy stocks, seeks 23-hour trading amid investor demand [Yahoo! Finance]Yahoo! Finance
- Inflation-hit California lost $110M in crypto rewards after 'ban' [Yahoo! Finance]Yahoo! Finance
- Why Chainlink Surged (Then Plunged) Today [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 10/30/25 - Beat
COIN
Sec Filings
- 12/15/25 - Form 144
- 12/10/25 - Form 4
- 12/10/25 - Form 4
- COIN's page on the SEC website