The Yieldmax Coin Option Income Strategy ETF (CONY) closed down 3.48% at $13.85 on December 23, as the underlying asset, Coinbase (COIN), saw its price fall by 3.29% to $269.55. The decline in Coinbase's stock is part of a broader downturn in cryptocurrency-related equities, driven by a loss of market momentum following a significant rally before the November 2024 elections. Investors are now searching for new catalysts to drive growth in the sector, as the initial excitement over favorable regulatory conditions for cryptocurrencies has waned. Additionally, the crypto market experienced substantial outflows, with CoinShares reporting a $1 billion outflow in the final two days of last week, coinciding with a price correction and a hawkish outlook from the Federal Reserve. This has contributed to the bearish sentiment in the market, affecting Coinbase and other crypto-related stocks.