Coinbase Crypto Prices Today, November 20, 2025: Bitcoin Slides Under $90K as Coinbase Rolls Out ETH-Backed Loans

Published: November 20, 2025

Cryptocurrency prices on Coinbase spent Thursday in risk-off mode, with Bitcoin slipping back below the $90,000 mark and Ethereum trading under $3,000, even as Coinbase pushed ahead with new products like ETH-backed loans and a regulated prediction market. ^[1]

Below is a detailed look at today’s Coinbase crypto prices, the market drivers behind the move, and the latest Coinbase news that could shape trading into the weeks ahead.

Key takeaways

Bitcoin (BTC) is trading around $88,000 on Coinbase, down sharply from intraday levels above $92,000 and well below record highs set earlier this year. ^[2]
Ethereum (ETH) is hovering near $2,850–$2,900 on Coinbase, after spending the day under pressure and sitting almost 40% below its all‑time high. ^[3]
Solana (SOL) is one of the relative winners, trading around $132 on Coinbase, following a roughly 2–3% gain in the past 24 hours on broader market indices. ^[4]
The overall crypto market cap is roughly $3.22 trillion, with 65 of the top 100 coins in the red today, as sentiment sinks back into “extreme fear.” ^[5]
Coinbase, meanwhile, has launched ETH‑backed on‑chain loans, allowing eligible users to borrow up to $1 million in USDC against ETH via the Morpho protocol on Base — and is preparing a regulated prediction market with Kalshi as part of its “Everything Exchange” strategy. ^[6]

Note: All prices and market data are as of the time of writing on November 20, 2025, and may change rapidly.

Coinbase crypto prices today (November 20, 2025)

From Coinbase’s own markets page, here’s where the major coins are trading right now on the exchange. ^[7]

Bitcoin (BTC) on Coinbase

Current Coinbase price: ~$88,100
Context:
- Across major exchanges, Bitcoin traded in a wide intraday range today, moving between roughly $92,900 at the high and $88,500 at the low, before settling back into the high‑$80,000s. ^[8]
- That swing followed an earlier rally linked to Nvidia’s strong earnings, which briefly boosted risk assets before sellers stepped back in and pushed BTC lower again. ^[9]

Bitcoin is now more than a quarter below its all‑time high, after a year in which it repeatedly set new records above $120,000 earlier in 2025. ^[10]

Ethereum (ETH) on Coinbase

Current Coinbase price: ~$2,863
Recent range (global indices): roughly $2,872 – $3,103 over the last 24 hours. ^[11]
Performance: ETH is down around 15% on the week and over 20% on the month, and trades roughly 39% below its all‑time high, according to aggregated price data. ^[12]

Despite the price pressure, ETH is at the center of Coinbase’s latest product push: on‑chain loans secured by ETH collateral (more on that below).

Solana (SOL) on Coinbase

Current Coinbase price: ~$132.09 ^[13]
Market tone: On broader indexes, SOL has risen around 2% in the last 24 hours, outpacing both Bitcoin and Ethereum and standing out as one of the few large‑cap coins in the green today. ^[14]

Solana’s relative strength is feeding a familiar narrative: even in choppy conditions, selective altcoins can show momentum while majors consolidate.

Other major coins on Coinbase

From Coinbase’s top‑traded list: ^[15]

Tether (USDT): ~$1.00
USD Coin (USDC): ~$1.00
BNB: around $879
XRP: around $2.02
TRON (TRX): about $0.28
Dogecoin (DOGE): about $0.15
Cardano (ADA): about $0.44

These figures show a market that is risk‑off but not collapsing: majors are down from the highs, but stablecoins continue to hold their peg and liquidity remains deep on Coinbase’s order books.

Why are Coinbase crypto prices down today?

Macro jitters, Nvidia earnings and ETF flows

Today’s price action fits into a broader pattern: the crypto market is struggling to digest new highs against a backdrop of macro uncertainty.

A detailed market review from Cryptonews notes that: ^[16]

Total crypto market cap sits near $3.22 trillion, down about 0.2% on the day.
65 of the top 100 coins and 8 of the top 10 by market cap are negative over the last 24 hours.
Bitcoin is roughly 11.5% lower on the week and 14.8% lower on the month, and sits about 27% below its all‑time high.

Glassnode analysts describe the market as “searching for stability,” warning that if key cost‑basis levels fail, the pullback could morph into a deeper bear phase. ^[17]

At the same time:

US Bitcoin spot ETFs have broken a multi‑day outflow streak, recording about $75 million in net inflows, a sign that institutional interest has not entirely dried up. ^[18]
ETH spot ETFs, by contrast, have seen nine straight days of outflows, underscoring the relative weakness in Ethereum compared with Bitcoin. ^[19]

Nvidia and risk sentiment

Both CoinDesk and 99Bitcoins highlight Nvidia’s blockbuster AI earnings as a key catalyst: risk assets initially rallied on the report, with Bitcoin spiking above $93,000, before a sharp reversal sent BTC back toward the $88,000 area. ^[20]

This pattern — a fast “shakeout” under $90K followed by a rebound — is reminiscent of earlier cycle corrections where leveraged positions are flushed out before the trend resumes. ^[21]

Coinbase’s big product move: ETH-backed on‑chain loans

While prices are soft, Coinbase is aggressively building out its lending and on‑chain finance stack, and today’s headline is all about Ethereum.

How the new ETH loans work

Multiple reports from The Block, CoinCentral and TradingView confirm that Coinbase has expanded its on‑chain lending product to include ETH as collateral, with loans facilitated through the Morpho lending protocol on Coinbase’s Base layer‑2 network. ^[22]

Key details:

Eligible users can borrow up to $1 million in USDC without selling their ETH.
Loans are secured with wrapped ETH (WETH) as collateral; support for staked ETH (via cbETH) is planned. ^[23]
Borrowers can access up to 75% loan‑to‑value (LTV), with liquidation starting around 86% LTV, meaning price drops in ETH can trigger forced repayment or collateral sale. ^[24]
There is no fixed repayment schedule, giving borrowers flexibility — but also placing the burden on them to manage collateral health. ^[25]
Coinbase’s existing BTC‑backed loan product has already seen more than $1.25 billion in borrowing from roughly 16,000 customers, showing strong demand for on‑chain, collateralized credit. ^[26]

CoinCentral also cites Galaxy Research data showing that crypto‑collateralized lending hit $73.6 billion in outstanding loans in Q3 2025, with DeFi protocols now accounting for more than half the market — a backdrop that makes Coinbase’s move look like a push to capture a larger share of a fast‑growing segment. ^[27]

What it could mean for ETH price on Coinbase

In the short term, ETH is still trading under $3,000 on Coinbase, with heavy selling across global venues in recent days. ^[28]

However, ETH‑backed loans may:

Encourage long‑term ETH holders to keep assets on Coinbase, rather than selling, by unlocking dollar liquidity without triggering a taxable sale. ^[29]
Increase demand for on‑chain ETH liquidity and wrapped ETH, potentially supporting on‑chain activity on Base.
Add another revenue stream for Coinbase in the form of interest and fees, partially decoupling its business from pure trading volumes. ^[30]

For traders, the key takeaway is that structural demand for ETH collateral is rising, even as the spot price remains volatile.

Prediction markets and Coinbase’s “Everything Exchange” vision

In addition to on‑chain loans, Coinbase is moving into a new area of speculation: regulated prediction markets.

According to a report from AInvest, Coinbase is partnering with Kalshi, a U.S.‑regulated event contracts exchange, to launch a prediction market platform that will allow trading on real‑world events like elections, economic data releases, and sports outcomes. The launch is expected on December 17, using USDC on the Base network for settlement. ^[31]

Key points from the report: ^[32]

Kalshi recorded about $4.4 billion in trading volume in October 2025, highlighting strong demand for event‑based products.
The platform uses Coinbase Custody to secure USDC reserves, combining Kalshi’s CFTC‑regulated framework with Coinbase’s institutional‑grade storage.
Coinbase views prediction markets as part of an “Everything Exchange” strategy — a move to expand beyond spot crypto trading into savings products, tokenized stocks, and now event contracts.
Recent initiatives, including U.K. savings accounts and tokenized equities in Singapore, have contributed to a 4.6% year‑to‑date gain in Coinbase’s stock price, even after today’s pullback.

This matters for crypto prices because it shows Coinbase is diversifying its revenue and deepening USDC and Base adoption, both of which can increase on‑chain activity and, indirectly, demand for key assets listed on the platform.

How is Coinbase stock (COIN) trading today?

While this article focuses on crypto prices on Coinbase, many traders also watch Coinbase Global Inc. (COIN) as a proxy for the exchange’s health.

From live market data:

COIN last traded around $239.62, down roughly 6–7% on the day.
The stock opened near $259.93, with an intraday high above $266 before sliding to an intraday low around $236.

The pullback lines up with today’s broader crypto correction, plus the usual volatility amplification you get from leveraged single‑stock ETFs, including new Direxion products that offer magnified long or short exposure to COIN shares. ^[33]

For traders, that means Coinbase equity is currently more volatile than the underlying market, and news around regulation, product launches, or ETF flows can move the stock even when spot crypto prices are relatively flat.

Adoption and sentiment: New Singapore survey highlights trust in Coinbase-style platforms

Beyond prices and products, Coinbase is also leaning into education and trust, especially in regulated markets like Singapore.

A new “Pulse of Crypto — Singapore 2025” survey, jointly published today by MoneyHero and Coinbase, offers a snapshot of how mainstream crypto has become in the city‑state: ^[34]

61% of “finance‑forward” Singaporeans surveyed hold cryptocurrency.
The typical crypto allocation sits around 6–12% of respondents’ portfolios — meaningful, but still cautious.
A strong “HODL bias” persists: 58% identify as long‑term holders, while only 22% call themselves active traders.
When choosing an exchange, trust (65%) outranks fees (42%), emphasizing the value of regulated, onshore platforms.
Most people learn about crypto via social media (62%), which increases accessibility but also the risk of misinformation.

For Coinbase, which operates in Singapore under the Monetary Authority of Singapore (MAS) regime, the survey backs its strategy of leaning into compliance, education, and security as differentiators — all of which matter when users decide where to keep assets during volatile periods like today. ^[35]

What today’s Coinbase price action means for traders and investors

For active traders on Coinbase:

Expect elevated volatility: BTC’s intraday sweep from the low‑$90Ks down into the high‑$80Ks and back shows how quickly order books can move, especially around macro catalysts and ETF flow headlines. ^[36]
Liquidity remains strong in majors like BTC, ETH, SOL, and USDT pairs, but thin altcoins can experience outsized slippage on sudden moves. ^[37]

For long‑term holders:

The crypto fear and greed index has dropped back into extreme fear, at around 15, a level last seen in mid‑April 2025. Historically, such readings have sometimes preceded strong rebounds — but they’ve also appeared during prolonged drawdowns. ^[38]
Bitcoin currently trades well below recent highs, and Ethereum is nearly 40% off its peak, underscoring the risk of large drawdowns even in assets with strong long‑term narratives. ^[39]

For ETH holders eyeing Coinbase’s new loans:

ETH‑backed loans on Coinbase offer liquidity without selling, but they introduce liquidation risk if ETH drops and your LTV climbs toward the 86% liquidation threshold. ^[40]
Because crypto remains volatile and interest rates are set by on‑chain supply and demand, borrowers need to track collateral ratios and understand exactly how much downside ETH can sustain before a forced sale.

Final word: Prices are shaky, but Coinbase keeps building

On November 20, 2025, Coinbase’s crypto prices tell one story — a market cooling off after a euphoric run — while Coinbase’s product roadmap tells another: the company is doubling down on being a full‑stack “Everything Exchange,” spanning spot trading, on‑chain lending, prediction markets, and regulated access in key regions like Singapore. ^[41]

For traders and investors, the message is clear:

Price volatility is here to stay, especially around macro events and ETF flows.
Coinbase is positioning itself at the center of on‑chain credit and event markets, not just spot trades.
Trust, regulation, and education are increasingly important in how users choose where to trade — particularly in markets like Singapore.

As always, this article is for informational purposes only and is not investment advice. Crypto and crypto‑backed loans carry significant risk, and anyone considering trading or borrowing against digital assets on Coinbase should carefully assess their own financial situation, risk tolerance, and local regulations.

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