Buy, Sell Or Hold Coinbase Stock At $136?

Coinbase is a way to own a piece of the crypto business through an ordinary brokerage account. At $136 it has given back about two-thirds of its value in 16 months. Is that a bargain or a warning? We’ll take the question seriously, with the numbers. But keep one thing in mind as you read: a dollar in Coinbase has behaved like more than a dollar in Bitcoin, on the way down especially. So before “buy or sell,” it’s worth knowing how much crypto you already carry. We’ll come back to that.

“Leverage is a magnifying glass. It makes the bad days bigger too.” – Anonymous

What Happened To Coinbase Stock?

Since Bitcoin peaked on Oct 6, 2025, the crypto stocks have fallen much further than the coin. Then something odd happened: since Bitcoin’s June 30 low, Bitcoin and Strategy have bounced, and Coinbase hasn’t.

Trefis price data, closing prices; Bitcoin at the Nov 9 UTC day close (Coinbase exchange). Coinbase’s own peak was $419.78 on Jul 18, 2025; Friday’s $134.76 close was the lowest since.

Last week added to it. Coinbase lost 7.3% from the Nov 3 election-day close to Friday, three times the S&P 500’s loss, most of it on Thursday, Nov 5, when the AI trade unwound and Coinbase fell 9.7%. When investors back away from risk, crypto stocks are near the front of the line.