Bitcoin and Crypto Stocks Decline Amid Tariff Concerns
By Andrew Kessel
Published April 07, 2025, 09:47 AM EDT
In a turbulent climate for cryptocurrencies, Bitcoin and related stocks experienced a significant decline on Monday, continuing the downward trend established last week. This sharp downturn comes on the heels of President Donald Trump’s announcement regarding new tariffs, which have sent ripples of fear through the financial markets.
Bitcoin Price Hits New Low
Bitcoin, the leading cryptocurrency, saw its price plummet to approximately $76,000 early Monday—a notable drop from its recent high of over $100,000 just two months ago. The cryptocurrency had already dipped below the $80,000 mark over the weekend, reflecting growing investor anxiety amid mounting tariff tensions.
Impact on Crypto-Related Stocks
Alongside Bitcoin, several crypto-related stocks also suffered heavy losses. Strategy, the Bitcoin acquisition company formerly known as MicroStrategy, saw its shares decline by about 12%. Similarly, shares of cryptocurrency exchange Coinbase fell by 9%. Bitcoin mining companies were not spared either, with Riot Platforms and Mara Holdings each experiencing a decline of approximately 9%. Robinhood, the trading app that has attracted numerous retail investors, witnessed its shares tumble by more than 10%.
Ongoing Tariff Concerns
The downward momentum for both Bitcoin and the broader market comes in light of the Trump administration’s reiterated commitment to impose comprehensive tariffs. Over the weekend, indications suggested that the administration had no intention of retreating from these plans, prompting a flurry of responses from global markets. On Friday, China hinted at retaliatory measures, adding further strain to an already tense situation.
This turbulence contributed to a broad sell-off, pulling major stock indexes lower as investors digested the implications of new tariffs on global trade and economic growth.
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Conclusion
The current state of Bitcoin and crypto stocks serves as a stark reminder of the volatility inherent in the cryptocurrency market, particularly when intertwined with geopolitical developments like tariffs. As the situation evolves, investors are advised to remain cautious and up-to-date with the latest news and market trends.
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