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Crypto Stocks in Focus after Flash Crash Clears Spec Excess (COIN, RIOT, CAN, ISWH, MSTR, PYPL)


The Bitcoin correction is upon us after the Coinbase Global Inc (NASDAQ:COIN) direct offering. The hype surrounding that process likely pulled in a lot of fast and loose money, which is now on its way out the door in violent fashion.
The weekend featured what can only be described as a flash crash, as Bitcoin fell nearly 13% in less than 30 minutes on Sunday morning when it broke through it primary upward trendline in place since mid-December, when it was still under the $20k level.
The catalyst was likely technical but inextricably tied to the excess of recent speculative inflows following its breakout about the $62k level into the COIN listing. ....

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