Coinbase (COIN) experienced its worst daily price drop since mid-2023 on Tuesday. According to TradingView, by the time the trading session closed, Coinbase shares had fallen in price by 9.8% to the level of $157.
Recall that at the end of October last year, Coinbase shares rose by 150% and by December reached their maximum of $187. At the same time, even after the recent drawdown, assets have almost doubled in value over the past 10 weeks.
The shares of Marathon Digital (MARA) and Riot Platforms (RIOT) decreased by 1-2%. A rare cryptocurrency that was in the black on Tuesday was MicroStrategy (MSTR), which added 7.9% in value.
The decline among crypto assets occurred after BTC rose above $45 thousand for the first time since April 2022. This is due to the fact that market participants were buying shares ahead of the expected SEC approval of the spot BTC ETF. At the time of publication of the article, BTC is trading over $45 thousand.