Crypto stocks Coinbase and Circle plunge 69-72% as selloff outpaces major tech companies
By
@cointelegraph
3h ago· 3 min readenNews
Summary
Crypto-focused companies Coinbase and Circle are experiencing steeper stock declines than major tech firms, with shares down 69% and 72% from all-time highs respectively, despite the broader S&P 500 showing relative resilience. The selloff highlights a growing divergence between digital asset equities and the broader US stock market, exacerbated by Bitcoin dropping below $60,000 and weakening market sentiment.
Source
bskyCrypto stocks Coinbase and Circle plunge 69-72% as selloff outpaces major tech companiescointelegraph.comKey quotes
· 3 pulledShares of Coinbase (COIN) and Circle (CRCL) have fallen 69% and 72%, respectively, from their all-time highs.
Those declines exceed the drawdowns seen in several major technology companies, including Oracle (ORCL), Salesforce (CRM), Netflix (NFLX) and Palantir (PLTR), which are down between 48% and 57% from their peaks.
A broad selloff in technology stocks has weighed even more heavily on crypto-focused companies, highlighting a growing divergence between digital asset equities and the broader US stock market.
Bitcoin's drop below $60,000 and weakening sentiment have weighed on crypto equities, while 21shares has lowered its 2026 market outlook.
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