Shares of the largest publicly traded U.S. crypto exchange, Coinbase, fell this week as the broader crypto market takes a hit in prices, and as the market grapples with news insider selling and analyst predictions.
Monness Crespi & Hardt downgraded COIN from “buy” to “neutral,” citing downside risk tied to weakening crypto market conditions. The firm set a price target of $120, implying more than 20% downside from recent trading levels.
The downgrade comes as the stock has struggled in early 2026 amid a broader pullback in digital assets. COIN opened Thursday around $153, down nearly 10% from intra-week highs, and is now off roughly 34% since the start of the year. Coinbase’s decline reflects the cooling of crypto markets after last year’s rally.
Bitcoin price has fallen about 30% over the past month, while major altcoins have posted even steeper losses. The downturn has reduced trading volumes across the sector, squeezing one of Coinbase’s core revenue drivers. Analysts across Wall Street have begun revising their forecasts.
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