- Coinbase stock drops 50% from December 2024 ATH amid Trump’s 10% import tariff announcement.
- Analysts warn of COIN falling to $100 after breaking its 2024 ascending price channel.
- S&P 500 sees worst dip since 2020; Bitcoin at $83K adds pressure on Coinbase stock.
A wave of panic triggered by Donald Trump’s recent tariff announcement led to a substantial decline in Coinbase’s stock price. The crypto exchange lost half of its all-time high value for shares which led to increased worry across crypto and stock markets. Market experts predict Coinbase stock will reach the $100 support level if the current downward trend persists.
Trump’s Tariff Announcement Sends Shockwaves Through Markets
Financial markets panicked when former President Trump unexpectedly declared a 10% tariff on all imports which led to asset prices plummeting. Stock markets experienced major turbulence and Coinbase stock suffered from this widespread disruption. During the last seven days Coinbase’s stock price fell 25% and has lost half its value from its peak price of $343.62 in December 2024.
The broader crypto market instability has worsened the current situation. Coinbase faces significant challenges as Bitcoin price drops to $83,000 and altcoins follow this trend. The combination of tariff news and crypto market negativity has delivered two strikes to the stock price which suggests further decline potential.
A Break in Coinbase’s Ascending Channel Sparks Concerns
Analysts have sounded warnings after observing Coinbase’s latest price movement. After continuously increasing throughout 2024 the stock has now escaped its upward channel pattern. Analysts now believe Coinbase may undergo a severe price correction that could see its value fall to $130 or possibly reach $100.
Ali Martinez, a well-known market analyst, pointed out that when a stock exits its ascending channel, it indicates a change in market trend. The trend change has the potential to cause significant price reductions particularly given today’s macroeconomic conditions. The broader market continues to struggle under the influence of the Trump tariff ahead for Coinbase seems uncertain, and investors are bracing for more volatility.
Bearish Predictions for Coinbase Amidst Heightened Market Uncertainty
The current market conditions deliver simultaneous negative impacts on Coinbase alongside other major market assets such as stocks and cryptocurrencies. Since June 2020 the S&P 500 has recorded its largest market decrease to date and so have various cryptocurrency sectors. Numerous investors hold off on market participation because the trade barrier developments produce market-wide confusion that warrants observation before executing new strategic moves.
The analysis shows that investor sentiment changes as a main factor alongside the tariff alerts. Some financial experts expect Coinbase stock to reach a minimum value of $80 during extreme market conditions. A potential market recovery of cryptocurrency may lead to stock price predictions reaching $400 levels once again.
