According to data from S3 Partners, Coinbase's short interest in 2026 has doubled to approximately 10%, with a short squeeze risk score of 82 out of 100. The stock is described as a "high-beta risk asset" with a high correlation to Bitcoin and the S&P 500 Index. Although the short squeeze risk score was high in 2025, a short squeeze did not occur. The company's revenue for the fourth quarter declined by 5% year-over-year to $1.78 billion, and further declines in the cryptocurrency market could affect future performance and short interest.