Coinbase (COIN) Stock: Why It Increased Today

By Amit Chowdhry ● Sep 26, 2022
  • The stock price of Coinbase (COIN) increased by over 0.7% pre-market today. This is why.

The stock price of Coinbase (COIN) increased by over 0.7% pre-market today. 

Why: Sympathy play associated with Bitcoin price

Details: The price of Bitcoin climbed back over $19,000 again despite a broader market selloff in the pre-market. Over the weekend, Bitcoin was trading below $19,000 largely due to interest rate hikes by the U.S. Federal Reserve and central banks along with economic indicators pointing towards recession potential.