Coinbase stock fell more than 5% on Wednesday as traders and investors remained pessimistic about the company’s business ahead of its fourth-quarter earnings report.
summary
- Coinbase stock is in a bear market after falling from $445 in 2025 to $153.
- The company is scheduled to announce its fourth quarter results on Wednesday.
- Robinhood’s crypto revenue fell by 38%, and Coinbase’s numbers fell as well.
Wall Street experts are turning bearish on Coinbase
Coinbase, the largest U.S. cryptocurrency exchange, fell to $154, a significant drop from its 2025 high of $445. The crash wiped out billions of dollars in value, dropping its valuation from nearly $100 billion to $41 billion.
Stocks fell as Wall Street analysts lowered their targets as the cryptocurrency market continues to tumble. JP Morgan maintained its overweight rating but lowered its target from $399 to $290. Cantor Fitzgerald also lowered its price target to $221 from $277, and Citigroup lowered its price target to $400 from $500.
The most bearish analyst is Compass Point’s Ed Engel, who maintained a sell rating but lowered his target from $230 to $190.
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Coinbase stock also fell after Robinhood’s stock fell more than 10% after Tuesday’s earnings release. The main reason for the weak performance was that crypto revenue, which had been attracting attention, fell by more than 38% in the fourth quarter. It has experienced triple-digit growth in the past quarter.
Therefore, Coinbase may also release weak earnings results after the market closes on Wednesday. Coinbase’s retail trading volume fell by 15% as Bitcoin (BTC) and other altcoins fell, according to third-party data. This is notable since transaction revenue makes up the largest portion of the company’s business.
Wall Street analysts expect Coinbase’s revenue to fall 78% from the same period in 2024 to $1.84 billion. This decline will come despite revenue from Deribit, a company it acquired last year. If this estimate is correct, annual revenue would be down 19.1% to $7.24 billion.
To make matters worse, with Bitcoin rallying to $67,000 today and crypto ETF outflows continuing, Coinbase is likely to remain depressed in the first quarter as well. These factors likely explain why Cathie Wood’s Ark Invest sold its shares.
Coinbase Stock Price Technical
COIN stock price chart | Source: crypto.news
The weekly timeframe chart shows that COIN stock has tumbled over the past few months, falling from an all-time high of $445 in July 2025 to the current $153.
It fell below the 61.8% Fibonacci retracement level at $190. Most importantly, the stock price has fallen to major support and has not fallen below it twice since 2024.
Coinbase stock price also fell below the 50-week and 100-week exponential moving averages, as well as the bearish, stop, and reverse levels of the Murrey Math Lines tool.
A break below the key support level at $143 would confirm the bearish outlook and could hint at further downside, the 78.6% retracement level at $120.
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