Coinbase Shares Rise 1.15% as Bitcoin Holds at $67,156 on Low Volume
Shares of Coinbase Global closed up 1.15% as Bitcoin traded sideways around $67,156 with trading volumes subdued. Over $160 million in liquidations hit the crypto market in 24 hours, while Bitcoin open interest rose 1.38%, risking $500 million in longs if BTC slides to $60,000.
1. Coinbase Shares Gain After Bitcoin Consolidation
Coinbase Global shares rose 1.15% as Bitcoin traded narrowly around $67,156 with subdued trading volumes, reflecting limited market catalysts and cautious investor sentiment toward cryptocurrency exchanges.
2. Liquidations and Rising Open Interest
More than $160 million was liquidated across cryptocurrencies in the past 24 hours, erasing $105 million in bullish long bets, while Bitcoin open interest climbed 1.38%, putting $500 million of long positions at risk if prices decline to $60,000.