Coinbase Jumps 6% After Compass Point Upgrade

Coinbase Global rose 6% to $185.34 on Monday morning after Compass Point analyst Ed Engel upgraded the cryptocurrency exchange to Neutral from Sell. The analyst also lifted his price target to $177. The move trims an 18% year-to-date decline that made Coinbase one of the most pressured names in the crypto sector heading into this week.

Engel linked the upgrade to a rebound in Bitcoin and long-run four-year cycle patterns, along with an upcoming US Senate floor vote on the Digital Asset Market Clarity Act. The bill, which cleared the Senate Banking Committee in May before stalling, would establish a new regulatory framework for digital assets. Crypto firms support the bill, US banks oppose it over stablecoin interest payments, and Senate Democrats have sought ethics provisions before backing the measure. President Donald Trump has publicly urged the Senate to pass it.

The broader crypto-linked market showed mixed reactions. Strategy rose 3% to $135.20, while the iShares Bitcoin Trust ETF gained 1%. By contrast, the SPDR S&P 500 ETF Trust dropped 0.8% amid tech-sector pressure. Meanwhile, miner MARA fell 2% to $11.69 after JPMorgan downgraded the stock to Underweight from Neutral with an $11 price target, citing the economics of its joint venture with Starwood Digital Ventures. MARA remains up 30% year to date.