Coinbase Stock Surges Friday as Bitcoin Tops $77,000

Coinbase Global Inc. shares traded higher on Friday, with cryptocurrency-related stocks rebounding alongside a rise in Bitcoin.

Bitcoin climbed above $77,000, posting a weekly gain of more than 20%. The cryptocurrency is on track for its best weekly performance since 2023.

Broader markets also provided support. The Nasdaq rose 0.32%, while the S&P 500 gained 0.38%. Financial stocks advanced 0.70%.

Trump Urges Congress to Pass CLARITY Act

Cryptocurrency sentiment improved following Wednesday's White House crypto summit. The event included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from Coinbase, Robinhood, Ripple, and Kalshi.

President Donald Trump reiterated his support for U.S. leadership in the cryptocurrency space. He also urged Congress to pass the CLARITY Act, which would establish a regulatory framework for digital assets.

Meanwhile, investors have regained interest in riskier assets after the Treasury expanded its debt buyback program.

Coinbase Technical Analysis

Coinbase is trading 20.6% above its 20-day simple moving average of $155.87. It is also 18.5% above its 50-day simple moving average of $158.53. These levels indicate strong short-term momentum following the stock's earlier decline.

The stock is 9% above its 100-day simple moving average of $172.44. However, it remains 5.4% below its 200-day simple moving average of $198.53, suggesting the long-term trend has yet to turn bullish.

The broader moving average setup remains bearish. The 20-day simple moving average is below the 50-day simple moving average. Additionally, the 50-day simple moving average remains below the 200-day simple moving average following a "death cross" in December 2025.

Key resistance sits near $213.50. A break above that level could strengthen the rally. Meanwhile, support is near $152.50, close to the short-term moving averages.

COIN Stock Performance: Coinbase shares were up 8.25% at $186.57 at the time of writing on Friday.