Shares in Coinbase (COIN), Strategy (MSTR), and other crypto-related stocks took a strong hit on Monday, following an increase in crypto market liquidations. Top coins, including BTC, ETH, and Solana, are also down, with many crypto investors selling their crypto for liquidity. The cryptocurrency market has struggled to gain momentum over the last few months.

Although 2025 was a bullish year for most of the year, October onwards saw a drastic shift in the crypto market. Bitcoin (BTC) climbed to an all-time high of $126,080 on Oct. 6, but has since been on a downtrend, leading other top coins to also slip. Strategy (MSTR) stock in particular has been down, with its BTC investment strategy not reaping much benefit despite continuing its buying spree.

The current cryptocurrency market predicament is likely due to macroeconomic worries. The first thing that could trigger a market-wide rally is an improvement in the global economy. Jobs data also needs to align for a better market response. Secondly, the Federal Reserve needs a dovish stance on the economy. This development will only come to fruition if the first point is fulfilled. The Federal Reserve has rolled out an interest rate cut this month, but its outlook remains hawkish.

The recent downturn in the crypto market has pressured Coinbase’s share price, which has declined 18.5% over the past three months, raising concerns about future earnings stability. Analysts have gone onto the bearish side, suggesting a further skid for Coinbase stock if the crypto market doesn’t pick up. Presently, Coinbase (COIN) is trading in the middle of its 52-week range and below its 200-day simple moving average. MSTR, meanwhile, is trading near the bottom of its 52-week range and below its 200-day simple moving average.