Bitcoin's climb above $80,000 triggers a sharp rally in Coinbase stock, which cleared key technical resistance amid improving institutional demand and bullish options positioning.
Bitcoin reclaimed the $80,000 threshold on Friday, fueled by renewed spot ETF inflows and a massive wave of short liquidations. Coinbase shares surged in tandem, clearing their 20-day moving average as options market sentiment signals potential for further near-term gains.
The rally is supported by renewed demand for spot Bitcoin ETFs, improved risk sentiment, and a significant wave of short covering that forced liquidations.
While technical momentum is turning positive, analysts maintain a 'Moderate Buy' rating with a mean price target of $199, suggesting limited upside from current prices.