JPMorgan Slashes Coinbase Target to $290 Amid Extreme Crypto Fear

VADODARA, February 10, 2026 — JPMorgan Chase & Co. has sharply reduced its price target for Coinbase Global Inc. (COIN) to $290 from $399, according to Walter Bloomberg. This 27.3% downward revision arrives as the latest crypto news highlights extreme market fear and Bitcoin struggles to hold the $68,935 level. Market structure suggests this move reflects deeper institutional concerns about exchange revenue models and regulatory headwinds.

Investigation: The Institutional Reassessment

JPMorgan's analysis, reported by Walter Bloomberg, indicates a significant recalibration of Coinbase's valuation. The bank lowered its twelve-month price target by $109. This adjustment follows a period of compressed trading volumes and heightened regulatory scrutiny across digital asset markets. According to on-chain data, exchange net flows have turned negative in recent weeks, pressuring fee-based revenue models.

Market analysts attribute the revision to multiple factors. Transaction fee compression remains a primary concern. , the evolving regulatory , particularly guidance from bodies like the SEC, creates uncertainty for centralized exchanges. The target cut contradicts some bullish retail narratives, highlighting a divergence between institutional and retail sentiment.

Market Context & Historical Precedent

Historically, major bank target revisions precede volatility phases. In 2022, similar downgrades correlated with prolonged crypto winters. In contrast, the current macro environment features divergent monetary policies. The Federal Reserve's stance on interest rates directly impacts risk asset valuations. You can review historical monetary policy data on the Federal Reserve's official website for deeper context.

Underlying this trend is a battle between institutional caution and technological adoption. While JPMorgan expresses skepticism, other developments continue. For instance, the Bank of England's selection of Chainlink for tokenized asset tests shows institutional blockchain integration advancing. Similarly, Blockchain.com securing a UK FCA license indicates regulatory progress amidst fear.

Technical Architecture & Price Action

Coinbase's stock chart reveals critical technical levels. The $290 target sits near a key Fibonacci 0.5 retracement level from the 2025 highs. A sustained break below the $250 support, which aligns with the 0.618 Fibonacci level, would invalidate the current consolidation structure. The 50-day moving average acts as dynamic resistance near $310.

Consequently, the order flow suggests weak hands are exiting. Volume profile analysis shows significant liquidity resting below $250. This creates a potential liquidity grab zone. If that level fails, a swift move to test the 200-day MA near $220 becomes probable. The RSI reading of 38 indicates neither oversold nor overbought conditions, allowing for further downside.

By The Numbers

Why It Matters

This target cut matters for portfolio allocation. JPMorgan acts as a liquidity proxy for traditional finance. Their revised outlook may influence other institutional flows. Market structure suggests a re-pricing of crypto-adjacent equities is underway. , it highlights the sensitivity of exchange stocks to Bitcoin's performance and regulatory news flow.

Retail market structure often lags these institutional signals. On-chain data indicates retail accumulation continues in certain altcoins despite the fear. This creates a divergence that typically resolves with a sharp move. The recent pledge by Michael Saylor to hold Bitcoin contrasts with the sell-side pressure implied by JPMorgan's action.

Expert Commentary

"The downgrade reflects a recalibration of risk premiums for crypto-centric businesses. Fee compression and regulatory overhang are not new, but their combined weight is now being priced in by tier-1 banks. The key question is whether this is a lagging indicator or a forward-looking warning."

Market Outlook & Price Scenarios

Two primary technical scenarios emerge from current data. The bearish case involves a break of the $250 support, triggering a liquidation cascade toward $220. The bullish case requires a reclaim of the $310 resistance, signaling institutional re-accumulation.

• Bullish Invalidation Level: $310. A daily close above this level, which coincides with the 50-day moving average and a prior order block, would negate the current downtrend structure and suggest the downgrade is fully priced in.
• Bearish Invalidation Level: $250. A sustained break below this Fibonacci and volume profile support zone would confirm the bearish thesis, potentially opening a path to the 200-day moving average near $220.

The 12-month institutional outlook remains cautious. Regulatory clarity from the SEC is a prerequisite for a sustained re-rating. The 5-year horizon still favors blockchain adoption, but intermediate volatility for intermediaries like exchanges is expected to persist.