Key Highlights

  • Coinbase Global (NASDAQ:COIN) fell 2.95% on October 26, 2026, while Strategy fell 4.24% and Circle fell 7.07%, but Galaxy Digital rose 6.81%, so crypto equities split instead of moving together.
  • Bernstein cut its price target on Coinbase Global (NASDAQ:COIN) to USD 250, a change that lowers one analyst's valuation but does not alter the company's reported results.
  • Galaxy Digital reports before the open on Tuesday, October 27, 2026, with an options-implied move of about 14.3%, the largest implied move among the crypto names in the week's reporting calendar.
  • Bitcoin slipped 1.2% to about USD 79,800 on October 26, and Coinbase is expected to report on Thursday, October 29, 2026 with an implied move of about 10.0%.

A Split Day for Crypto Stocks

On Monday, October 26, 2026, Coinbase Global (NASDAQ:COIN) fell 2.95%. Strategy (NASDAQ:MSTR) fell 4.24% in published market data. Circle Internet Group (NYSE:CRCL) fell 7.07%. Galaxy Digital (NASDAQ:GLXY) went the other way and rose 6.81%. Bitcoin slipped 1.2% to about USD 79,800 and Ether fell 2.3%, so the underlying assets were weak, but each equity responded to its own mix of business drivers. Coinbase earns most of its revenue from trading fees, Strategy holds Bitcoin on its balance sheet, Circle issues a stablecoin whose income depends on interest rates, and Galaxy runs trading and mining businesses. Because those models differ, one headline on Bitcoin does not explain all four moves.

Bernstein and the Earnings Calendar

Bernstein cut its price target on Coinbase Global (NASDAQ:COIN) to USD 250. The previous target, the rating and the reasoning were not available for this article, so only the new figure is stated. A target cut matters because it signals that an analyst expects lower revenue or a lower multiple, but it is one opinion. The stock faces results on Thursday, October 29, 2026, with an implied move of about 10.0%, while Strategy has an implied move of about 9.3%. Galaxy reports first, before the open on October 27, with an implied move of about 14.3%, and its numbers may shape expectations for the group. A large implied move means options traders expect volatility, not a particular direction, and a result that beats estimates can still be followed by a decline.

Risks and What to Watch

Coinbase depends on trading volume and on fees, both of which fluctuate with prices, and spot Bitcoin fund outflows of USD 169 million on October 26 show that investors have been reducing exposure. Stablecoin regulation, competition on fees and the Federal Reserve decision on October 28 also matter. Interest income on customer balances can fall if rates drop, and a regulatory ruling could change how stablecoins and trading products are treated. Investors can watch Galaxy's results, Treasury yields near 4.99% and Coinbase's own report, as well as any update to analyst targets after the reports. An implied move is an estimate of volatility, not a prediction of direction. Nothing in this article is investment advice.

Where Things Stand

The answer is that Coinbase Global (NASDAQ:COIN) fell 2.95% because Bitcoin weakened and an analyst cut the price target to USD 250, while Galaxy Digital rose 6.81% on its own set of drivers. Crypto equities did not move together. Galaxy's results on October 27, 2026 and the Coinbase report on October 29 are the next catalysts, and each can change how investors rank the group. Bitcoin near USD 79,800 is the key external factor.