Coinbase Sounds The Alarm: Crypto Market Rollercoaster To Persist

Driven by the expected introduction of spot Bitcoin ETFs, despite the positive trend of the crypto market earlier this year, the second and third quarters of 2024 have experienced notable headwinds. “The third quarter started on a sour note,” says Coinbase’s head of institutional research, David Duong. The market has been much affected by supply overhangs created by indiscriminate Bitcoin selling from price-insensitive sources, notably the German government’s Bundeskriminalamt (BKA), the crypto exchange said.