Coinbase Global Inc (NASDAQ:COIN) shares are under pressure on Thursday as Bitcoin’s (CRYPTO: BTC) latest pullback weighs on crypto‑linked stocks.

Crypto Market Cools Sending Crypto-Linked Stocks Lower

After President Donald Trump addressed the escalating conflict with Iran late Wednesday, Bitcoin fell roughly 3%, slipping below $67,000 after the speech. Traders had spent much of the day positioning for a potential easing of geopolitical tensions and a reopening of the Strait of Hormuz.

Instead, Trump warned that the U.S. would strike Iran "extremely hard" over the next two to three weeks as military objectives near completion. He also floated the possibility of targeting Iran's electric grid if negotiations fail and offered no clear timeline for restoring shipping through the Strait, saying that responsibility would fall to Europe and Asia.

Coinbase is the leading cryptocurrency exchange platform in the United States, positioning itself as a safe and regulation-focused on-ramp for both retail traders and institutions. That business model is why Bitcoin's direction matters so much for the stock: when crypto prices come under pressure, trading activity and risk appetite can cool quickly.

COIN Faces Continued Selling

Coinbase is trading 9.8% below its 20-day simple moving average (SMA), the stock's average price over the last 20 sessions, which suggests the recent bounce hasn't held. It's also 22.6% below its 100-day SMA, a sign the intermediate trend remains tilted toward sellers.

Momentum gauges are still leaning bearish: the moving average convergence divergence (MACD), a trend/momentum measure, shows -5.3543 versus a -2.1931 signal line, which is consistent with downside pressure still dominating rallies. The death cross in December (when the 50-day SMA fell below the 200-day SMA on Dec. 29, 2025) reinforces that the longer trend has been weak, even though the 20-day SMA remains above the 50-day SMA.

Over the last 12 months, the stock is down 6.08%, which is backward-looking but lines up with the idea that COIN is still rebuilding after a larger drawdown. Within the 52-week range ($139.36 low to $444.64 high), the stock is much closer to the lows than the highs, which often means buyers want clearer confirmation before stepping in aggressively.

  • Key Resistance: $190.50 — near the 20-day SMA area where rebounds have recently struggled.
  • Key Support: $152.50 — a level traders often watch for demand after the February breakdown.

COIN Price Action: Coinbase shares were down 0.70% at $171.79 at the time of publication on Thursday, according to Benzinga Pro.

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