Key Highlights

  • Bitcoin (BTC) was about USD 81,255 on the latest published data, roughly 36.6% below its October 6, 2025 record of USD 128,198, after dipping under USD 80,000 on October 27.
  • Coinbase Global (NASDAQ:COIN) reports after the close on Thursday, October 29, 2026, with a consensus loss of USD 0.18 a share on one earnings calendar page. The figure is unverified.
  • Strategy (NASDAQ:MSTR) reports the same evening with a consensus of USD 21.50 a share, a figure driven by fair-value accounting on its Bitcoin holdings and not by operations alone. It is also unverified.
  • Robinhood (NASDAQ:HOOD) saw its crypto revenue fall 55% this week, according to a recap of its results, which makes the Coinbase and Strategy reports the next test of trading activity across the sector.

Bitcoin (BTC): A 36.6% Drawdown From the Record

Bitcoin was about USD 81,255 on the latest published data, roughly 36.6% below its record of USD 128,198 set on October 6, 2025, a figure from simple arithmetic on those two numbers. It dipped under USD 80,000 on October 27, then rose 0.78% on October 28 while Ether rose 0.76% to about USD 2,359. The level comes from a single recap, and a Thursday price was not retrieved. A long drawdown typically weighs on trading activity, which feeds through to every business that earns from it. Bitcoin (BTC) is also the asset that Strategy holds on its balance sheet. The macro backdrop adds pressure: the Federal Reserve held at 3.75% to 4.00% on October 28, December hike odds are near 81% to 85%, and the 10-year Treasury yield closed above 5%, which tends to pressure speculative assets. Ether's rise of 0.76% to about USD 2,359 on October 28 shows the move was not limited to Bitcoin. The dip under USD 80,000 on October 27 is a reminder that the price can swing quickly, and readers should check live quotes before using any single level. Rebounds after a dip of this kind can fade, so one up day does not make a trend.

Coinbase Global (NASDAQ:COIN): A Test of Trading Activity

Coinbase is scheduled to report after the close on October 29, 2026, with a consensus loss of USD 0.18 a share on one earnings calendar page. Results were not out when this was written, and the figure is unverified because it comes from a single page and has not been confirmed against filings. Coinbase earns much of its revenue from trading fees, which tend to track volumes and price levels, so a long drawdown typically weighs on activity. Investors will focus on trading revenue, expense control and any commentary on volume trends. The risks include further Bitcoin weakness, thin trading volumes and the macro backdrop. Options markets typically price large moves for such reports, but no implied move was retrieved here. Watch trading volume and revenue commentary from Coinbase Global (NASDAQ:COIN) to see whether activity stabilizes or keeps weakening. Strategy and Coinbase are the next test after Robinhood, and both are scheduled for the same evening. Traders will also watch whether volumes and revenue commentary stabilize or keep weakening, since a weak report could extend pressure on crypto-linked shares.

Strategy (NASDAQ:MSTR): Profit Driven by Bitcoin Fair Value

Strategy is scheduled to report the same evening with a consensus of USD 21.50 a share on the single calendar page, and the number is unverified. Its earnings are driven by fair-value accounting, which means the reported profit moves with the Bitcoin price and says less about operations. When Bitcoin rises over a quarter, the holdings are marked up and profit can jump, and when it falls the opposite happens, so a large consensus figure reflects the price path and not a core business trend. Coinbase and Strategy are exposed to Bitcoin in different ways: one through fees, the other through holdings. Watch the fair-value result and the Bitcoin holdings disclosed in the release from Strategy (NASDAQ:MSTR). Both reports depend on trading activity and price, and neither figure has been confirmed against filings. The size of the consensus figure shows the fair-value effect: a profit of that scale for a company of its type comes from marking holdings to market, so a strong print would not by itself show stronger operations. A falling Bitcoin price would push the result the other way, and the reported figure could swing sharply.

Robinhood (NASDAQ:HOOD): Crypto Revenue Down 55%

Robinhood's crypto revenue fell 55% this week, according to a recap of the company's results, and investors read it as a signal for trading activity across the sector. That puts pressure on the Coinbase and Strategy results, because trading revenue tends to move with market activity and a fall of that size shows how quickly crypto income can shrink when prices drop. The details of the Robinhood quarter beyond that figure were not reviewed, so total revenue, profit and customer numbers are not discussed here. The wider setup is the same for each name: the quarter closed with Bitcoin well below its record, the Federal Reserve is leaning hawkish, and long yields are above 5%. For Robinhood (NASDAQ:HOOD), the warning is that trading-driven revenue is cyclical and depends on market conditions. Robinhood's result is relevant because it reported ahead of the other two, which makes it the first hard read on retail crypto trading in the quarter. Investors will compare its fall with Coinbase's trading revenue and volumes to judge whether the decline was company specific or sector wide.

Where Things Stand

Coinbase is reporting with Bitcoin about 36.6% below its record because its quarter ended in a weak market, and that backdrop makes the report a real test of trading activity. The evidence so far is a single consensus page and Robinhood's 55% fall in crypto revenue as a warning for Robinhood (NASDAQ:HOOD). Strategy (NASDAQ:MSTR) will show how fair-value accounting swings with the price. The next catalysts are the Coinbase Global (NASDAQ:COIN) and Strategy releases after the close, then Bitcoin (BTC) in the Asian session on Friday. None of these outcomes is guaranteed, and both consensus figures should be checked against company filings once they are published.