On August 1, rising trade tensions and softer-than-expected U.S. jobs data sparked a market-wide sell-off that dragged crypto and related equities lower. Coinbase’s stock plunged nearly 17% after missing Q2 revenue expectations—even though trading volumes rose. Bitcoin slipped below $115,000. Despite the downturn, analysts from Deutsche Bank and Oppenheimer remain cautiously optimistic about a long-term rebound.