Key Stats for Coinbase Stock
- Price change for Coinbase stock: -7%
- $COIN Share Price as of Jun. 5: $152
- 52-Week High: $445
- $COIN Stock Price Target: $230
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What Happened?
Coinbase (COIN) stock fell about 7% on Friday as Bitcoin crashed below $60,000 for the first time since October 2024.
Bitcoin fell to $59,764.90, its lowest level in months, heading for an 17% weekly loss, while Coinbase stock is on pace for a 15% weekly loss — one of the worst since February.
The sell-off began on Monday after Michael Saylor’s Strategy disclosed it had sold 32 Bitcoin for about $2.5 million — its first sale since 2022 — breaking with Saylor’s long-held “never sell” stance and cracking investor confidence.
That triggered a cascade of forced liquidations, with crypto exchanges recording $594 million in long liquidations in a single 24-hour period.
On Wednesday, Bitcoin ETFs hit their 13th straight day of outflows, with total assets across the funds falling to $82.8 billion from $107.8 billion on May 14.
Then Friday added one more punch: a stronger-than-expected May jobs report pushed bond yields higher and squeezed risk assets across the board.
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What the Market Is Telling Us About Coinbase Stock
The deeper problem is that Bitcoin has lost its defining narratives — it’s not acting as digital gold, not an inflation hedge, and not even moving like a high-beta tech stock, while the market hits record highs and capital rotates into chip stocks and AI infrastructure instead.
Baird cut its Coinbase price target to $142 from $160 and expects Q2 revenue to miss Wall Street estimates by 5% to 6% due to weak trading volumes, adding that the CLARITY Act looks unlikely to pass before mid-term elections, removing a key potential catalyst.
Still, most of Wall Street isn’t panicking. Of all analysts tracked by FactSet, the majority still rate COIN a Buy with an average target of just above $230.
Coinbase’s own business is actually improving under the surface. In Q1, the company hit an all-time high in crypto trading market share and now has 12 products, each generating over $100 million in annual revenue, including fast-growing derivatives and prediction markets.
Coinbase stock now sits roughly 66% below its 52-week high and is down 35% for the year (after Friday’s close).
The near-term question is simple: will Strategy come back as an aggressive Bitcoin buyer on Monday? If yes, it could stabilize sentiment.
If it sold or was inactive, it would likely fuel further concerns about one of crypto’s most important sources of structural demand. For long-term investors, Coinbase stock remains a direct bet that the crypto cycle will eventually turn.
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How Much Upside Does Coinbase Stock Have From Here?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
