NEW YORK, January 8, 2026, 13:16 EST — Regular session
- Coinbase shares rise in U.S. trade after Bank of America upgrade to Buy
- Bitcoin falls back toward $90,000, keeping crypto-sensitive names in focus
- Traders watch Friday’s U.S. jobs report and Coinbase’s next earnings timing
Coinbase Global shares were up 1.4% at $249.42 on Thursday after Bank of America upgraded the crypto exchange to “Buy,” giving the stock a company-specific boost in a market still tied to bitcoin’s mood swings. TipRanks
The timing matters because Coinbase’s results still lean heavily on how much people trade crypto, and volumes can dry up fast when prices slide. This week’s pullback in bitcoin has put that link back on the screen.
At the same time, investors have been watching whether Coinbase can turn itself into more of an all-in-one trading venue, so revenues do not hinge on spot crypto fees alone. The company has said it plans to add stock trading and event contracts, and it has been buying in and building around prediction markets.
BofA Securities analyst Craig Siegenthaler said he turned positive “post 2H product velocity acceleration and stock pullback,” and argued the expansion into stocks, ETFs and prediction markets brings Coinbase’s “everything exchange” ambition closer. He kept a $340 price target and wrote that short interest — bets against the stock — “has doubled y/y” even as the valuation multiple has compressed. Investing.com
Bitcoin did not help much on the day. It fell 2.3% to about $90,500 after flirting with $95,000 earlier in the week, with traders pointing to profit-taking and caution ahead of macro data.
A separate filing showed one Coinbase director, venture capitalist Frederick R. Wilson, sold 10,000 Class A shares on Jan. 2 under a Rule 10b5-1 trading plan. The Form 4, filed Jan. 6, also showed share receipts tied to Coinbase’s acquisition of The Clearing Company of San Francisco.
Other crypto-linked names were mostly higher despite the dip in bitcoin. Strategy rose about 4.9%, while bitcoin miners Marathon Digital and Riot Platforms gained roughly 5.1% and 0.9%, respectively; Robinhood was little changed.
Macro is the next hurdle. The U.S. Labor Department’s December employment report is due on Friday at 8:30 a.m. ET, and investors are weighing how it could shift the path for Federal Reserve policy and risk appetite.
There are obvious ways this can go wrong. If bitcoin breaks lower and trading activity cools again, Coinbase’s transaction revenue can fall quickly, while competition and pricing pressure can squeeze fees even in a steady tape. Some of the bullish narrative around tokenization and new products also depends on execution and regulators staying predictable.
For now, traders will keep one eye on Friday’s jobs data and the other on crypto prices. Coinbase’s next earnings are expected around Feb. 19 after the close, though the company has not confirmed the date.
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