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Coinbase Stock Falls After Investors Take Profits Amid CLARITY Act Hopes

Guavy AI Editorial Team
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BTC
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Coinbase Global Inc. (NASDAQ:COIN) stock fell on Tuesday after investors took profits following a 9% rally on Monday.

The rally coincided with Senate Republicans releasing a revised draft of the CLARITY Act, which boosted market expectations that the crypto market-structure bill could secure the necessary votes to advance to formal debate.

Compass Point analyst Ed Engel upgraded Coinbase stock from Sell to Neutral on Monday, raising his price forecast from $130 to $177. Engel cited signs of a recovery in Bitcoin (CRYPTO: BTC) and noted that retail trading activity typically follows digital asset price gains.

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