Cointelegraph·2h ago·negative

Coinbase and Circle stocks fall 69-72% from highs, outpacing Big Tech losses

Coinbase and Circle shares have dropped 69% and 72% from all-time highs, far exceeding losses at Oracle, Netflix and Salesforce. The S&P 500 is down just 3.5% from its peak, showing how crypto equities are bearing the brunt of the tech selloff.

Coinbase (COIN) down 69% from all-time high; Circle (CRCL) down 72%
Oracle, Netflix, Salesforce are down 48-57% from peaks — less severe than crypto stocks
S&P 500 has only retreated 3.5% from its recent high
Bitcoin below $60,000 and Ether near $1,500 have deepened negative sentiment
Coinbase Q1 revenue fell 21% quarter-over-quarter, missing Wall Street estimates

marketexchangeImpact 7/10

Why our editor rated this negative

Crypto equities are severely underperforming the broader market, with Coinbase and Circle losing over two-thirds of their value. Bitcoin and Ether are deep in bear territory, and Coinbase posted a quarterly loss. This is clearly negative for the crypto industry.

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