United

2026

Bitcoin

<p>Stocks tied to digital assets are sliding faster than the broader US market, reinforcing an increasingly visible split between crypto-focused equities and the S&amp;P 500. The latest comparison comes from The Kobeissi Letter, which points to steep drawdowns at major crypto businesses as technology selloffs <a class="thirstylink" href="https://coinstats.app/coins/ripple/" rel="noopener noreferrer nofollow">ripple</a> through risk assets.</p><p>According to The Kobeissi Letter, <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-coinbase.aspx?TargetURL=https://www.etoro.com/markets/coin" rel="noopener noreferrer nofollow">Coinbase</a> and <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-circle.aspx?TargetURL=https://www.etoro.com/markets/crcl" rel="noopener noreferrer nofollow">Circle</a> shares are down 69% and 72%, respectively, from their all-time highs. Those declines outpace drops seen in several large technology names—such as Oracle, <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-Salesforce.aspx?TargetURL=https://www.etoro.com/markets/CRM" rel="noopener noreferrer nofollow">Salesforce</a>, <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-Netflix.aspx?TargetURL=https://www.etoro.com/markets/NFLX" rel="noopener noreferrer nofollow">Netflix</a> and Palantir—each down between 48% and 57% from peak levels, while the S&amp;P 500 has retreated about 3.5% from its recent high.</p><h2 id="key-takeaways">Key takeaways</h2><ul><li>Crypto-related equities are falling much more sharply than the S&amp;P 500, according to The Kobeissi Letter.</li><li>Investor pressure is tied not only to broader risk-off moves, but also to weaker digital asset markets and policy uncertainty in the US.</li><li><a class="thirstylink" href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>’s drop below $60,000 and <a class="thirstylink" href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">Ether</a> sliding toward $1,500 have intensified selling across the sector.</li><li>Corporate earnings stress is compounding the downturn, with <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-coinbase.aspx?TargetURL=https://www.etoro.com/markets/coin" rel="noopener noreferrer nofollow">Coinbase</a> missing Wall Street expectations in its latest quarterly report.</li><li>Despite continued institutional activity, 21Shares says crypto’s four-year market cycle remains a key driver of prices into 2026.</li></ul><h2 id="crypto-equities-break-away-from-the-broader-market">Crypto equities break away from the broader market</h2><p>The widening gap between crypto-adjacent stocks and the S&amp;P 500 appears tied to a combination of macro pressure and sector-specific risk. The pullback in technology equities reflects growing concerns that rapid advances in artificial intelligence could disrupt existing business models across parts of the sector. Within that environment, crypto businesses face additional headwinds.</p><p>Even as semiconductor stocks have managed to hold up better through periods of volatility, crypto-related shares have remained under pressure. The Kobeissi Letter’s comparison suggests the underperformance is not just a beta story tied to general market weakness—it also reflects how quickly public equities react to sentiment around digital asset performance.</p><h2 id="digital-asset-selling-feeds-equity-declines">Digital asset selling feeds equity declines</h2><p>Market conditions in crypto have worsened alongside equities. The article notes that <a class="thirstylink" href="https://coinstats.app/coins/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> fell below $60,000 this week and extended its decline to more than 54% from its October peak. <a class="thirstylink" href="https://coinstats.app/coins/ethereum/" rel="noopener noreferrer nofollow">Ether</a> has likewise faced heavy selling, recently dropping to around $1,500—about 69% below last year’s high.</p><p>When crypto prices slide, revenue expectations for exchanges, custody providers, and payments platforms can come under pressure, and investors often reprice the sector more aggressively than the general market. That dynamic helps explain why Coinbase and <a class="thirstylink" href="https://med.etoro.com/B10215_A127826_TClick_Scb-circle.aspx?TargetURL=https://www.etoro.com/markets/crcl" rel="noopener noreferrer nofollow">Circle</a> have experienced drawdowns that exceed those of several major technology companies.</p><p>Broader digital asset policy is also part of the backdrop. The report points to uneven progress on comprehensive crypto market structure legislation in the United States, a factor that continues to influence how investors value the long-term prospects of crypto businesses.</p><h2 id="earnings-disappointment-adds-another-layer">Earnings disappointment adds another layer</h2><p>Financial results have not helped. The coverage highlights that Coinbase reported first-quarter results that missed Wall Street expectations. As described in earlier reporting from <a class="thirstylink" href="https://sovrn.co/1h8llaz" rel="noopener noreferrer nofollow">Cointelegraph</a>, the company’s revenue fell 21% from the prior quarter and it posted a loss of $1.49 per share, compared with analysts’ expectations for earnings of $0.27 per share.</p><p>For investors, earnings misses during a period of declining crypto market activity can have outsized impact: they reinforce concerns about transaction-driven revenues and trading volume sensitivity. In short, equity investors appear to be dealing with both the market-level hit from weaker coin prices and company-level pressure from the latest quarterly numbers.</p><h2 id="21shares-trims-2026-expectations-but-sees-institutional-progress">21Shares trims 2026 expectations, but sees institutional progress</h2><p>While public equities are under strain, institutional participation remains a key part of the crypto narrative. In a midyear outlook, 21Shares lowered its expectations for 2026, arguing that digital asset prices have underperformed relative to underlying fundamentals.</p><p>According to the report, institutional adoption is still strengthening—particularly in stablecoins, tokenization, and prediction markets. However, 21Shares emphasizes that the dominant force behind crypto prices continues to be Bitcoin’s four-year cycle.</p><p>In the same outlook, 21Shares states that increasing institutional ownership may have moderated Bitcoin’s drawdowns but has not fundamentally changed the asset’s cyclical behavior. The firm also indicated it previously forecast the four-year cycle could become obsolete, but has since walked back that view, saying the cycle is “evolving, but it has not broken yet.”</p><p>The argument matters for investors because it frames market volatility as more structural than purely sentiment-driven. If Bitcoin’s cycle remains intact, rallies could be more dependent on timing and macro liquidity than on incremental improvements in on-chain or institutional usage metrics—an outlook that can influence positioning across both crypto assets and crypto equities.</p><h2 id="what-to-watch-next">What to watch next</h2><p>Investors will likely focus on whether crypto price action stabilizes—especially around the $60,000 level for Bitcoin and the $1,500 area for Ether—as well as whether upcoming corporate reports from major crypto platforms show earnings pressure easing or continuing. At the same time, market participants will watch how US legislative progress advances, since regulatory clarity (or its absence) continues to shape valuation assumptions for the sector.</p><p>This article was originally published as <a href="https://www.cryptobreaking.com/coinbase-and-circle-shares-trail/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Coinbase and Circle Shares Trail Big Tech as Crypto Selloff Worsens</a> on <a href="https://www.cryptobreaking.com/?utm_source=rss&amp;utm_medium=syndication&amp;utm_campaign=article_footer" rel="noopener noreferrer nofollow">Crypto Breaking News</a> – your trusted source for crypto news, Bitcoin news, and blockchain updates.</p>

Coinbase and Circle Shares Trail Big Tech as Crypto Selloff Worsens

Table of Contents

Crypto Breaking News

Other articles published on Jun 27, 2026

Sharplink Adds Another 5,000 ETH to Corporate Treasury, Now Holds 886,285 Ether

Gold Consolidates Below $4,050 as Fed Rate Hike Bets Counter Weaker Dollar

Bitcoin Holdings Exceed Company Value: Strategy Faces Critical Evaluation

XLM Holds on to Seven-Year Price Pattern Ahead of Bullish Breakout Move

EU’s Stride Towards Crypto Regulation: MiCA Licensing Accelerates

dogwifhat (WIF) Price Rebounds Into Key Supply Zone — Can Bulls Trigger a 30% Breakout?

Join our free newsletter for daily crypto updates!