Key Highlights

  • Coinbase (NASDAQ:COIN) reports after the close on Thursday, October 29, 2026, with consensus of a loss of USD 0.18 a share, according to one earnings calendar page.
  • Strategy, which reports the same evening, carries a USD 21.50 consensus that is driven by fair-value accounting on its Bitcoin holdings rather than by operations alone.
  • Bitcoin (BTC) is about USD 81,255, roughly 36.6% below its October 6, 2025 record of USD 128,198, after dipping under USD 80,000 on October 27.
  • Robinhood's crypto revenue fell 55% this week, making Coinbase (NASDAQ:COIN) and Strategy the next test; the consensus figures are unverified and from one page. Both depend on trading activity.

The Evening's Two Crypto Reports

Coinbase Global (NASDAQ:COIN) 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. Strategy (NASDAQ:MSTR) is scheduled the same evening with a consensus of USD 21.50 a share. Results were not out when this was written, and both figures are unverified because they come from a single page. The setup follows Robinhood (NASDAQ:HOOD), whose crypto revenue fell 55% this week, which makes these two the next test of trading activity. Neither figure has been confirmed against filings, so both should be treated cautiously. Investors will focus on trading revenue, expense control and any commentary on volume trends.

Bitcoin's Drawdown and Why It Matters

Bitcoin (BTC) 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. 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. Strategy's earnings are driven by fair-value accounting, so its reported profit moves with the Bitcoin price and says less about operations. Coinbase and Strategy are exposed to Bitcoin in different ways: one through fees, the other through holdings.

Risks and What to Watch Next

The risks for both stocks are further Bitcoin weakness, thin trading volumes and the macro backdrop. 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. Nasdaq-100 futures were down about 1.2% before 4:30 a.m. ET. Watch trading volume and revenue commentary from Coinbase (NASDAQ:COIN), the fair-value result and Bitcoin holdings at Strategy, and the 7:30 a.m. ET PCE print earlier in the day. Traders will also watch whether volumes and revenue commentary stabilise or keep weakening. Options markets typically price large moves for such reports, but no implied move was retrieved here.

Where Things Stand

Coinbase (NASDAQ:COIN) 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. The next catalysts are the Coinbase and Strategy releases after the close, then Bitcoin's reaction in the Asian session on Friday.