Coinbase Sinks 15%, Strategy and Bitmine Drop 8% as Bitcoin Slides Below $63K

Bitcoin fell 3% to about $62,478, dropping below the $63K level and triggering a broader selloff across crypto-linked assets. Coinbase was hit hardest, plunging 15% after reporting a $359 million Q2 net loss, revenue down 17% to $1.15 billion, and transaction revenue down 22% amid weaker spot trading volumes and low volatility. Strategy fell 8% after posting an $8.22 billion Q2 loss tied largely to unrealized fair-value losses on its 846,000 Bitcoin holdings. Bitmine also dropped 8%, while the iShares Bitcoin Trust declined 4% in step with BTC. The article highlights worsening sentiment across the crypto complex, with traders watching whether Bitcoin can hold support and whether Coinbase’s business mix can offset dependence on trading activity.