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Quick Read
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Coinbase jumped 6% on a Compass Point upgrade to Neutral, while MARA slid 2% after JPMorgan cut it to Underweight with an $11 target.
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IBIT rose 1% as Bitcoin lifted crypto stocks, while SPY fell 0.8%, splitting crypto-linked equities from the broader AI-led tech selloff.
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The Senate’s <a href="https://xpertsstudio.com/injective-policy-chief-says-clarity-act-could-cement-long/” title=”Injective Policy Chief Says Clarity Act Could Cement Long”>CLARITY Act vote this week is the binary catalyst for Coinbase, though analyst Ed Engel expects the bill to fail.
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Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Coinbase didn’t make the cut. Enter your email to see the names that beat COIN. The report is free. Enter your email and see if any of your stocks made the cut.
Coinbase Global (NASDAQ:COIN) shares are up 6% to $185.34 Monday morning after Compass Point analyst Ed Engel upgraded the exchange operator to Neutral from Sell ahead of a scheduled Senate floor vote on crypto market-structure legislation. The bounce for Coinbase stock trims an 18% year-to-date decline that had made the exchange one of the sector’s most bruised names heading into this week.
Strategy (NASDAQ:MSTR) stock is rising 3% to $135.20, riding sympathy from the underlying asset it holds on its balance sheet. Meanwhile, MARA (NASDAQ:MARA) stock is sliding 2% to $11.69 on a separate JPMorgan rating cut, a notable divergence from the rest of the crypto-linked complex today.
Bitcoin (CRYPTO:BTC) is the asset doing the lifting, and passive vehicles are following it higher. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) is up 1%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.8%, a split showing this corner of the market is trading on its own catalyst rather than the AI-led selling weighing on the broader index. Crypto-linked equities are running on regulatory and analyst signals today, not the same macro currents pulling large-cap tech lower.
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Compass Point Upgrade Meets Clarity Act Optimism
Engel lifted his price target on Coinbase to $177 alongside the rating change, citing a Bitcoin rebound and the Senate’s upcoming floor vote on the Digital Asset Market Clarity Act (Clarity Act). He argued that Bitcoin has traditionally traded in four-year cycles, that the current one is tracking close to those long-run patterns, and that rising expectations of a recovery from the bottom drove the upgrade of Coinbase.
Source: finance.yahoo.com