Coinbase Inc. shares traded lower Monday as weakness across the cryptocurrency market weighed on crypto-linked stocks.

What To Know: Bitcoin slipped below $112,000, down about 1.7%, while other major tokens including Ethereum, Solana, Dogecoin, Shiba Inu, and XRP also posted declines. The drop in digital assets comes amid broader macroeconomic jitters, with traders citing Bitcoin's inability to hold its recent range and concerns over a potential deeper correction.

The global cryptocurrency market capitalization declined 3.1% to $3.84 trillion. Ethereum, despite making a new all-time high on Sunday, slid more than 3% to around $4,600. Solana fell over 4% to just under $200, and Dogecoin lost more than 5% to trade near $0.22. XRP dipped under $3, trading at $2.93, while Shiba Inu also slipped more than 4%.

Liquidation pressures added to the volatility, with Coinglass reporting that more than 166,000 traders were liquidated in the past 24 hours, totaling nearly $840 million in losses. ETF flows reflected investor caution: Bitcoin spot ETFs recorded $23.2 million in net outflows on Wednesday, while Ethereum ETFs saw inflows of $341.2 million.

Traders flagged key levels in Bitcoin's price action. Altcoin Sherpa noted that Bitcoin's attempt to re-enter its trading range looked "bleak," warning he would exit positions if the lower bound breaks on higher timeframes. Analysts highlighted resistance for Bitcoin between $116,000 and $121,000, though the token remains within a broader corrective phase.

Among other forecasts, Pentoshi suggested that Solana could find short-term relief at around $250 but doubted it would outperform Ethereum this cycle. CrediBULL Crypto projected XRP could reach between $3.60 and $4 before encountering stronger resistance, while longer-term spot positions target higher levels. Ali Martinez predicted one final dip before meme coins stage a breakout, and Jelle pointed to Ethereum's bullish breakout pattern that could eventually support a move toward $10,000.

The overall decline in digital assets left Coinbase under pressure, with investors closely tracking whether Bitcoin can stabilize and reclaim its recent trading range in the sessions ahead.

COIN Price Action: Coinbase Global ( COIN ) shares were down 4.33% during regular trading and down 0.21% in after-hours trading on Monday, according to Benzinga Pro data.

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