
Coinbase Global Inc (NASDAQ:COIN) shares surged higher Tuesday as cryptocurrency-related stocks rebounded following recent weakness.
The crypto market traded lower last week following a technical breakdown of Bitcoin (CRYPTO: BTC) around the 20,000 level. The decline in crypto markets accelerated after Bitcoin fell through support. Cryptocurrencies also faced selling pressure amid a selloff in broader risk assets as traditional markets continued to trend lower, closing out the worst first half of the year since 1970.