Crypto washout sends bitcoin below $58,000 ahead of Fed decision [Globe and Mail, The (Toronto, Canada)]
Coinbase Global, Inc. - Class A (COIN)
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Source: Globe and Mail, The
investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the world's most traded cryptocurrency fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70,000. Bitcoin fell by as much as 5.6% to its lowest since late February. It was last down 4.8% at $57,001, while losses in ether were more modest, down 3.6% at $2,857, also at its weakest since February. The price of bitcoin is now a full 22% below March's record of $73,803, technically putting it in a bear market. But it is still up 35% so far this year and double where it was this time last year, thanks in large part to the billions of dollars flowing into newly minted exchange-traded funds since January. “The recent downtrend can be attributed to increased profit-taking by investors who entered the market during the downturns of 2022 and 2023, as well as ETF investors who witnessed signif
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COIN
News
- The Ethereum Staking Opportunity [Yahoo! Finance]Yahoo! Finance
- ‘Massive down scam wicks' suppressing bitcoin price, per analyst [TheStreet.com]TheStreet.com
- Bitcoin Nears $63K as Bulls Chew Through 'Taker Selling' [Yahoo! Finance]Yahoo! Finance
- Cahill Gordon & Reindel Beefs Up Crypto Practice, Adds 3 Crypto-Native Lawyers Including Lewis Cohen [Yahoo! Finance]Yahoo! Finance
- The World's Best Crypto Exchanges And Marketplaces [Forbes]Forbes
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/15/24 - Form 144
- 5/14/24 - Form 144
- 5/13/24 - Form 144
- COIN's page on the SEC website