BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Coinbase (COIN) Falls 6% As Bitcoin Price Dips

Digital asset exchange, Coinbase has seen its stock price fall due to bearish macroeconomic factors. Historically, the asset trades with activities in the crypto market in addition to other factors. This leads to price volatility characterized by falls during crypto bear seasons and peaks with a bullish outlook.  
Wider crypto stocks have also faced daily lows closing trading to extend previous losses. However, bulls opine that the next bull phase and upward swing will break the $72,000 mark. While this is uncertain, on-factors and price trend points to a price rebound coupled with a potential interest rate cut. 
Coinbase Losses Deepens
The largest crypto exchange by volume in the United States has extended short-term outflows in the last 24 hours. COIN declined 6% today to trade at $212.31 as crypto prices plunged. The asset’s poor performance reflects the present market sentiments as on-chain activity stalls.  
As a result, transactional volumes, and decentralized finance ( DeFi ) activities dropped having an impact on the exchange’s value. This week, COIN tanked over 11% while monthly exits are over 10%. These double-digit outflows affected the traders and bullish projections on the asset.  
However, based on previous estimates, the asset has the propensity to reach highs during a bull season. This year, COIN soared astronomically due to the rebound in wider crypto assets as Bitcoin price hit a new all-time high above $73,000. This led to the asset posting better-than-expected earnings in the first quarter with positive projections for the rest of the year. 
Crypto Stocks Remain Idle
Wider crypto stocks have remained as low as they were last week with many extending daily losses due to the industry correction. Recently, a notable trader, Peter Schiff raised concerns over some hedge funds moving funds from Bitcoin and shorting positions in MicroStrategy’s assets.  MSTR plummeted 7.5% in the last 24 hours as the price of Bitcoin fell below $61,000 causing major off-sets in crypto stocks.  
Also Read: Bitcoin Price Influenced By 3 Liquidity Factors, Here’s All?
The post Coinbase (COIN) Falls 6% As Bitcoin Price Dips appeared first on CoinGape .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News