Why Bitcoin, Ethereum, and Coinbase Were Sinking Today

Cryptocurrencies and crypto-related stocks were under pressure again in Wednesday's trading. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) were down roughly 4.5% and 4.1%, respectively, over the previous 24-hour period as of 5:30 p.m. ET, and Coinbase Global (NASDAQ: COIN) saw its stock end the daily trading session down 5.2%.

Most top-50 cryptocurrencies are in the red over the last 24 hours of trading, and it looks like investors are taking some money off the table on the heels of recent pricing rebounds. Coinbase stock lost ground amid a pullback for the broader cryptocurrency market despite the Nasdaq Composite index ending the daily trading session up roughly 0.5% and the S&P 500 climbing roughly 0.9%.

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Source Fool.com