Coinbase (COIN) shares dropped on Monday as the overall cryptocurrency market experienced a downturn, pulling down crypto-related stocks.

Here’s what’s happening: Bitcoin fell below $112,000, losing about 1.7% in value. Other major cryptocurrencies like Ethereum, Solana, Dogecoin, Shiba Inu, and XRP also declined. This drop follows broader market concerns and fears that Bitcoin might be heading for a deeper correction, especially since it failed to stay in its recent price range.

The total value of the global cryptocurrency market fell by 3.1%, now sitting at $3.84 trillion. Ethereum, which had hit a new all-time high on Sunday, dropped over 3% to around $4,600. Solana slid more than 4% and is now trading just under $200. Dogecoin saw a bigger loss of over 5%, falling near $0.22. XRP dropped below the $3 mark to $2.93, and Shiba Inu was down more than 4%.

A big part of this volatility came from forced liquidations. According to Coinglass, over 166,000 traders were liquidated in the last 24 hours, resulting in nearly $840 million in losses. This kind of selling pressure adds to the chaos in the market.

ETF activity also showed that investors are being cautious. Bitcoin spot ETFs recorded outflows of $23.2 million, signaling that investors were pulling money out. Meanwhile, Ethereum ETFs saw inflows of $341.2 million as traders shifted focus.

Crypto analysts are closely watching Bitcoin’s price levels. One analyst known as Altcoin Sherpa said things don’t look good for Bitcoin if it can’t stay above its lower support levels. Resistance for Bitcoin is expected between $116,000 and $121,000, but it remains stuck in a larger corrective trend.

Looking at other coins, one trader known as Pentoshi suggested that Solana might bounce near $250 but isn’t likely to outperform Ethereum in this cycle. Another analyst, CrediBULL Crypto, predicted XRP could reach $3.60–$4 before facing serious resistance. Ali Martinez expects meme coins to dip once more before they rally again. Analyst Jelle pointed to a bullish pattern in Ethereum that could eventually push it toward $10,000.

With all these declines across the crypto market, Coinbase stock took a hit as well. Investors are keeping a close eye on whether Bitcoin can bounce back and stabilize soon.

Coinbase (COIN) stock was down 4.33% during regular trading hours and dipped another 0.21% after hours on Monday.

Key crypto market terms:
– Bitcoin price
– Ethereum ETF inflows
– Solana support levels
– XRP resistance forecast
– Meme coin breakout
– Crypto market correction
– Coinbase stock performance
– Cryptocurrency liquidation
– Bitcoin trading range

Stay tuned for how the crypto market reacts in the coming days as volatility remains high.