Coinbase and Crypto Stocks Tumble on Broader Market Weakness

On August 1, crypto-linked stocks diverged sharply as macroeconomic concerns dampened sentiment. Coinbase shares fell 17% following a disappointing earnings report, while Bitcoin dipped below $115,000—down from highs near $120K. Robinhood also declined ~2%. Analysts attributed this pullback to a general “risk‑off” mood triggered by trade tensions and mixed U.S. jobs data. Despite the short-term volatility, some firms like Deutsche Bank and Oppenheimer see longer‑term upside for crypto equities.