Bitcoin breaks out while Coinbase breaks down: Finance Redefined

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Bitcoin breaks out while Coinbase breaks down: Finance Redefined

^{Published on 2025-05-16 15:20:41 - CoinTelegraph}

- Coinbase's $400 million phishing bill was not enough to erode crypto investor sentiment, as Bitcoin withdrawals from exchanges hit a record for 2025.

Bitcoin experienced a significant breakout, surpassing $23,000 and reaching a high of $24,600, marking a 10% increase in a single day and a 25% rise over the past week, driven by optimism around potential spot Bitcoin ETF approvals and the upcoming halving event. Meanwhile, Coinbase faced challenges as its stock price dropped 12% following a downgrade by Oppenheimer due to concerns over the sustainability of its revenue growth, despite the firm's strong performance in the previous year. Additionally, the crypto market saw other developments, including Ethereum's Shanghai upgrade approaching its final testnet phase, a surge in Bitcoin Ordinals inscriptions, and the introduction of a new stablecoin by PayPal, highlighting the dynamic and evolving nature of the cryptocurrency landscape.

Read the Full CoinTelegraph Article at:
[ [ https://cointelegraph.com/news/bitcoin-breaks-out-coinbase-breaks-down-finance-redefined ] ]

N@N

Bitcoin breaks out while Coinbase breaks down: Finance Redefined