COIN Stock Price Drops 6.4% after Coinbase Withdraws Support for Crypto Bill
The post COIN Stock Price Drops 6.4% after Coinbase Withdraws Support for Crypto Bill appeared on BitcoinEthereumNews.com.
Key Notes Brian Armstrong flagged major issues on tokenized equities, DeFi limitations, and others, over withdrawing their support from the Crypto Bill. The COIN stock dropped below $240 after another rejection near $255, triggering a death cross pattern. Armstrong said the bill’s work has intensified and that industry concerns align with Coinbase’s stance. COIN, the native stock of crypto exchange Coinbase, faced major selling pressure, correcting 6.4% on Jan. 15. This drop in the COIN stock price comes as Coinbase withdraws its support from the crypto market structure bill. Citing differences over stablecoin rewards, Coinbase CEO Brian Armstrong noted that this is a major challenge to the status quo. “We’d rather have no bill than a bad bill,” he said. COIN Stock Price Tanks 6.4%, Forming a “Death Cross” The COIN stock price faced yet another rejection at $255, and corrected 6.4% during the Jan. 15 trading session. As a result, the stock ended trading under $240 levels once again, forming a death cross pattern on the technical charts. Chad Ventures noted the technical price patterns with the 50-day simple moving average (SMA) crossing below the 200-day SMA. This indicator reflects a bearish technical pattern. However, Chad Ventures noted that the last two times COIN stock price made a similar setup, the pattern closely coincided with major price bottoms. In both prior cases, the stock rallied more than 100% there after. $COIN formed another “death cross” (crossover of 50 and 200SMA) on the daily chart. While that sounds super scary, the last 2 times it occurred marked the bottom almost perfectly, and price went up >100% shortly thereafter in both instances. pic.twitter.com/2dNnLWuAyE — chad. (@chad_ventures) January 16, 2026 The latest volatility in the COIN stock price comes as Coinbase withdrew from the crypto market structure bill earlier this week. Armstrong…
Filed under: News - @ January 16, 2026 9:23 am