Coinbase stock surged 16% to close at $164.32 on February 15, driven by resilient retail accumulation of Bitcoin and Ethereum. CEO Brian Armstrong confirmed customers have been buying the dip, with most holding equal or higher crypto levels than in December. Despite this rally, the exchange reported a significant Q4 loss of $666.7 million.
The stock of cryptocurrency exchange Coinbase rose 16% on February 15 as retail investors continued accumulating Bitcoin and Ethereum during a recent price downturn. This activity signals sustained confidence in the leading digital assets despite ongoing market volatility.
Coinbase CEO Brian Armstrong confirmed retail users have been buying throughout February. Company data shows most customers maintained or increased their BTC and ETH holdings compared to December, indicating a widespread “buy the dip” strategy.
Armstrong stated retail users demonstrated “diamond hands” through the volatility. “They’ve been buying the dip – we’ve seen a native unit increase for retail users across BTC and ETH,” he posted.
Technical analysis cited by an analyst on X indicates key resistance for COIN stock lies at $186.19. Price targets extend as high as $426.98, with support remaining at $125.81.
Major financial firms have issued varied price targets, ranging from $148 to $500. This comes despite the company reporting a $666.7 million loss for the fourth quarter, which fell below Wall Street estimates.
Armstrong has also sold over $100 million in shares recently, part of approximately $500 million in sales last year. Experts note such executive sales do not necessarily indicate pessimism but can influence market sentiment during volatile periods.
