Coinbase Global (COIN) Shares Drop After Sell Selloff and Price Target Cuts

Bitcoin plunged to a 4% session low at $65,079 as Standard Chartered slashed its 2026 price forecast to $100,000 from $150,000 and warned of a potential $50,000 range before stabilization amid weakening momentum and a tough macro backdrop. Monness, Crespi, Hardt & Co. downgraded Coinbase to sell, cutting its price target to $120 and revenue and earnings forecasts through 2027. Coinbase shares fell about 8% to $140 after the outage on its website, with the company warning users may temporarily be unable to buy, sell, or transfer assets. The broader crypto market has erased nearly $2 trillion in value since October, and Coinbase is forecast to report an estimated loss of 5 cents per share for Q4, versus 86 cents per share in earnings, reflecting a more than 80% year-over-year revenue decline. Analysts note retail inflows have remained flat, signaling a market where fading momentum, rather than fresh buying, now drives price action.