Why Coinbase (COIN) Stock Is Nosediving

Shares of cryptocurrency exchange Coinbase (NASDAQ:COIN) fell 8.2% in the morning session after stocks tied to the crypto market fell, mirroring the weakness in digital assets. Bitcoin, the largest cryptocurrency by market cap, dropped to $87,000, a 20% decline from its all-time high of $109,114 on January 20, 2025. Historically, when Bitcoin stumbles, the broader crypto market takes a harder hit, and this time is no exception.