TLDR
- Coinbase and Strategy losses pushed crypto stocks lower as investors watched COIN MSTR and MARA.
- Strategy reported an $8.22B net loss after Bitcoin markdowns hit its corporate treasury position hard.
- Coinbase posted a $359.5M net loss as transaction revenue dropped 21% from Q1 this quarter.
- MARA earnings on August 6 could add volatility as the stock holds near $10 support.
- COIN may test $139 support if selling pressure continues after its July 31 decline now.
Crypto stocks enter the new week under pressure after Coinbase and Strategy reported steep second-quarter losses, while Mara Holdings prepares to release earnings on August 6.
Coinbase and Strategy Results Pressure Crypto Stocks
Coinbase and Strategy reported second-quarter results on July 30, showing the strain from weaker crypto prices and lower trading activity. Their results pushed COIN and MSTR lower as investors reassessed near-term risk across crypto-linked equities.
Strategy posted a net loss of $8.22 billion for the quarter. The loss was mainly tied to an $8.33 billion unrealized decline on its Bitcoin holdings.
The company also reported earnings per share of negative $24.45, compared with market expectations of positive $0.79. Revenue reached $122.4 million, up 6.9% from $114.5 million a year earlier.
Coinbase reported a loss per share of $1.36 and a net loss of $359.5 million. Revenue came in at $1.2 billion, below expectations near $1.3 billion.
Transaction revenue stood at $599.2 million, down 21% from the previous quarter. The decline reflected weaker crypto trading volumes during the period.
COIN and MSTR Face Bearish Technical Setups
COIN stock fell 10% on July 31 and closed at $146. The move took Coinbase shares to their lowest level since July 1.
Trading volume also increased during the decline, showing heavier selling pressure. A continuation of that pressure could bring the June 26 low near $139 into focus.
The relative strength index stood near 40, showing weaker momentum for Coinbase shares. The RSI also moved lower, suggesting sellers remained active after the earnings report.
The ADX line also pointed lower, showing that the downtrend had gained strength. COIN stock may need to reclaim higher levels before short-term confidence improves.
MSTR stock also dropped 4.56% on July 31 and closed at $93. The decline pushed Strategy below its 20-day and 50-day exponential moving averages.
That move weakened the short-term technical outlook. A break below the $90 support level could increase pressure on the stock.
However, green AO bars suggested selling momentum may be slowing. MSTR would need to move back above $100 to show stronger buyer control.
MARA Earnings Could Add Volatility This Week
MARA stock is also in focus as Mara Holdings prepares to report second-quarter earnings on August 6. The report may add volatility to crypto mining stocks during the week.
MARA closed down 4.23% at $11 on August 2. Despite the drop, the stock remained up 24% over the past month.
The stock’s RSI stood near 44, showing that sellers still had control of near-term momentum. Red AO bars also suggested bearish pressure was building.
MARA may test the $10 support level if selling pressure increases. The stock briefly traded below that level on July 29 before recovering.
The coming week now places COIN, MSTR, and MARA at the center of crypto stock trading. Coinbase and Strategy have already reported weak results, while Mara’s earnings could shape the next move for Bitcoin-linked equities.
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