Struggling Crypto Stock Boosted by Bitcoin Bump

Coinbase Global Inc (NASDAQ:COIN) stock is charging higher this morning, last seen up 7.5% to trade at $196.08, the cryptocurrency wallet enjoying a halo lift alongside Bitcoin (BTC). The enigmatic digital asset is up more than 5.7% at a one-month high, reclaiming $72,000 threshold as investors buy the dip. 

Coinbase stock is still 10% lower in 2026, a level to watch going forward. The shares fell to a 12-month low of $139.36 on Feb. 12, but have now tacked on 15.6% this week alone and are poised to close above their 50-day moving average for the first time since November. 

The stock looks ripe for a short squeeze, too, with short interest up 57.7% in the past two reporting periods. The 26.56 million shares sold short now make up 12.1% of the stock's available float.

Plus, Coinbase Global stock's Schaeffer's Volatility Scorecard (SVS) comes in at 98 (out of 100). In other words, shares have consistently realized higher volatility than its options have priced in over the past 12 months.