Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Fell Tuesday

Shares of crypto-related stock Coinbase Global Inc COIN closed lower by 4.28% to $67.21 Tuesday amid a drop in Bitcoin BTC/USD and Ethereum ETH/USD.

Bitcoin fell as much as 2.18% to the $19,100-level and Ethereum fell as much as 3.17% to the $1,290-level despite a continued rebound in broader markets. Major indices were higher following better-than-expected third-quarter earnings from Goldman Sachs. Strong quarterly reports from U.S. banks have helped lift market sentiment going into the earnings season. Despite the bounce in the equity market, Bitcoin and Ethereum have not taken part in this week's risk-on rally.

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Coinbase is the leading cryptocurrency exchange platform in the United States.