Coinbase Volumes Diverge from Bitcoin Price as Retail Interest Wanes

Coinbase volumes have historically tracked bitcoin price, but are now diverging
Volumes dropped from $145B in Q1 to $92B in Q2, while bitcoin price rose
Suggests retail FOMO is fading, unlike in previous cycles
Problematic for Coinbase as most revenue comes from retail
Mizuho expects "reality check" for Coinbase stock, has underperform rating
Coinbase stock up 125% YTD, while bitcoin up 60%

coindesk.com

Relevant topic timeline:

8/21/2023

Most fear since SVB collapse — 5 things to know in Bitcoin this week

Bitcoin (BTC) faces uncertainty and fear in the market as it struggles to recover from a 10% crash, with short-term holders experiencing increasing unrealized losses and on-chain transactions setting multiyear highs. Traders are cautious about the outlook, but historical patterns and upcoming events, such as the Jackson Hole Economic Symposium, may provide opportunities for recovery.

8/30/2023

Bitcoin (BTC) About To Witness Real FOMO and Disbelief, According to Crypto Strategist – Here’s His Outlook - The Daily Hodl

Bitcoin traders may soon experience a fear of missing out (FOMO) as the cryptocurrency is expected to make a strong upward move, according to a popular crypto strategist, Credible Crypto, who believes that Bitcoin needs to reclaim a key level around $29,000-$30,000 for the real FOMO to begin.

9/4/2023

US Stock Investors’ Complacency is Worrying, JPMorgan Strategists Warn

US stock investors have become increasingly complacent and the fear of missing out (FOMO) is driving a surge in sentiment, despite concerns raised by JPMorgan strategists.

9/11/2023

Bitcoin Slump Continues as Cryptocurrencies Remain Mired in Uncertainty

Bitcoin and other cryptocurrencies have experienced a fall in value, leaving traders anticipating significant movements in the market for the week ahead.

9/11/2023

Crypto Markets Show Signs of Recovery Despite Bearish Sentiment

New data from crypto analytics firm Santiment suggests that despite widespread uncertainty in the market, digital assets are indicating potential rallies, as periods following increased fear, uncertainty, and doubt (FUD) tend to lead to price increases for cryptocurrencies.

9/12/2023

Bitcoin Rebounds After Dip Below $25K, But FTX Fallout Still Weighs on Crypto Market

The price of bitcoin rebounds by 4.5% as fears around FTX liquidations ease and investors cover short positions, but uncertainty remains due to weakened momentum and lack of clear market catalysts.

9/26/2023

Crypto Craze Cools as Prices Stagnate and Interest Wanes

Crypto fatigue has set in as trading volume stagnates and attention shifts to AI, posing challenges for Coinbase, Bitcoin, and the wider crypto economy.

10/5/2023

Crypto VC Burniske Sees Potential Bottom Ahead, Advises Buying Opportunity for Patient Investors

Prominent venture capitalist Chris Burniske suggests that a phase of selling exhaustion in the cryptocurrency market may be approaching, presenting a potential buying opportunity despite prevailing fear; Burniske also highlights the possibility of Bitcoin and Ethereum dropping to lower price levels.

Topics

Posted 9/12/2023, 3:55:00 PM

Coinbase Volumes Diverge from Bitcoin Price as Retail Interest Wanes

Coinbase volumes have historically tracked bitcoin price, but are now diverging
Volumes dropped from $145B in Q1 to $92B in Q2, while bitcoin price rose
Suggests retail FOMO is fading, unlike in previous cycles
Problematic for Coinbase as most revenue comes from retail
Mizuho expects "reality check" for Coinbase stock, has underperform rating
Coinbase stock up 125% YTD, while bitcoin up 60%

coindesk.com

Relevant topic timeline:

8/21/2023

Most fear since SVB collapse — 5 things to know in Bitcoin this week

8/30/2023

Bitcoin (BTC) About To Witness Real FOMO and Disbelief, According to Crypto Strategist – Here’s His Outlook - The Daily Hodl

9/4/2023

US Stock Investors’ Complacency is Worrying, JPMorgan Strategists Warn

US stock investors have become increasingly complacent and the fear of missing out (FOMO) is driving a surge in sentiment, despite concerns raised by JPMorgan strategists.

9/11/2023

Bitcoin Slump Continues as Cryptocurrencies Remain Mired in Uncertainty

Bitcoin and other cryptocurrencies have experienced a fall in value, leaving traders anticipating significant movements in the market for the week ahead.

9/11/2023

Crypto Markets Show Signs of Recovery Despite Bearish Sentiment

9/12/2023

Bitcoin Rebounds After Dip Below $25K, But FTX Fallout Still Weighs on Crypto Market

The price of bitcoin rebounds by 4.5% as fears around FTX liquidations ease and investors cover short positions, but uncertainty remains due to weakened momentum and lack of clear market catalysts.

9/26/2023

Crypto Craze Cools as Prices Stagnate and Interest Wanes

Crypto fatigue has set in as trading volume stagnates and attention shifts to AI, posing challenges for Coinbase, Bitcoin, and the wider crypto economy.

10/5/2023

Crypto VC Burniske Sees Potential Bottom Ahead, Advises Buying Opportunity for Patient Investors