Coinbase(US:COIN) Benzinga·2026-01-21 01:57Market Overview - Leading cryptocurrencies experienced significant declines, with Bitcoin dropping 3.95% to $88,951.35 and Ethereum falling 6.76% to $2,965.89, amidst heightened market volatility due to President Trump's tariff threats [1][2][3] - The global cryptocurrency market capitalization decreased by 4% to $3 trillion within 24 hours, reflecting a broader sell-off in the market [5] Trading Activity - Bitcoin's trading volume surged by 76% over the last 24 hours, indicating increased market activity during the sell-off [3] - Approximately $1.7 billion was liquidated from the cryptocurrency market, with a billion worth of leveraged long positions disappearing [3] Market Sentiment - The Crypto Fear & Greed Index indicated a shift in market sentiment from "Fear" to "Extreme Fear," suggesting heightened anxiety among investors [4] - Despite the downturn, Bitcoin whale investors have continued to accumulate, with addresses holding between 10 and 10,000 BTC acquiring 36,322 tokens over the last nine days, marking a 0.27% increase [8][9] Company Performance - Shares of cryptocurrency-related companies, such as Strategy Inc. and Coinbase Global Inc., saw declines of 7.76% and 5.57%, respectively, reflecting the negative sentiment in the broader market [3]