COIN is trading at $197.94 (-4.02%) as major cryptocurrencies pull back and rising geopolitical tensions weigh on broader market sentiment.
- The decline follows a volatile session yesterday where the stock gained +5.25% to close at $206.24 during a sharp crypto rebound.
- Digital assets are currently under pressure, with BTC down 1.29% and ETH falling 3.76% since the last close.
- Macro headwinds are impacting the move, as the S&P 500 and Nasdaq trade lower while oil prices climb above $105/barrel due to instability in the Strait of Hormuz.