Coinbase rises as Bitcoin tops $77,000 and crypto sentiment improves

Coinbase Global Inc. (NASDAQ: COIN ) stock traded higher Friday as cryptocurrency-linked stocks rallied alongside Bitcoin (CRYPTO: BTC).

Bitcoin climbed above $77,000 and was up more than 20% for the week.

The cryptocurrency was on track for its best weekly gain since 2023.

The broader market also provided support.

The Nasdaq gained 0.32%, while the S&P 500 rose 0.38%.

Financial stocks advanced 0.70%.

Trump Urges Congress To Pass CLARITY Act Crypto sentiment improved after a White House cryptocurrency summit Wednesday.

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 cryptocurrency.

He also urged Congress to pass the CLARITY Act, which would establish a regulatory framework for digital assets.

Meanwhile, investors showed renewed interest in higher-risk assets after the Treasury Department expanded its debt repurchase program.

Read Also: Bitcoin Jumps Above $77,000, Gold Hits 3-Month Highs: Stock Market Today Coinbase Technical Analysis Coinbase traded 20.6% above its 20-day simple moving average of $155.87.

It was also 18.5% above its 50-day SMA of $158.53.

Those levels point to strong short-term momentum after the stock's earlier decline.

The stock was 9% above its 100-day SMA of $172.44.

However, it remained 5.4% below its 200-day SMA of $198.53, suggesting the longer-term trend has yet to turn bullish.

The broader moving-average setup also remains bearish.

The 20-day SMA is below the 50-day SMA.

In addition, the 50-day SMA remains below the 200-day SMA following a "death cross" in December 2025.

Key resistance stands near $213.50.

A move above that level could strengthen the rebound.

Meanwhile, support sits near $152.50, close to the shorter-term moving averages.

COIN Stock Price Activity: Coinbase shares were up 8.25% at $186.57 at the time of publication Friday, according to Pro data.

Photo via Shutterstock Read Also: Data Shows Bitcoin's 20% 3-Day Rally Was Historic: Here's What Happened After Comparable Rallies