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Key Takeaways
- Bitcoin and stocks linked to the cryptocurrency industry both fell on Monday morning, continuing a slide which began last week.
- Bitcoin surged after U.S. President Donald Trump's election win in November, but has declined since his inauguration.
- The Trump administration's tariffs have created uncertainty in the market, making stocks and crypto especially volatile in recent weeks.
The mood of cryptocurrency markets is not improving this week. Bitcoin, BTCUSD and other stocks tied to digital currencies are still struggling. All currencies are moving lower on Monday morning.
Stocks such as cryptocurrency exchanges Robinhood (HOOD), Coinbase (COIN), and Bitcoin miners Mara Holdings, (MARA), along with Strategy (MSTR), which is the largest corporate holder in Bitcoin, all fell last week. Bitcoin also dropped over the weekend. After a 3.3% drop on Friday, it fell 2.1% on Saturday.
The group declined, as investors appeared to be moving away both from riskier and conventional assets. The broader stock market was also down on the Friday. Uncertainty over the Trump administration’s economic policies like tariffs has created a volatile stock market in recent weeks, as the S&P 500 and Nasdaq have each declined in five of the last six weeks.
Bitcoin’s price soared after Trump’s election victory in November, as the industry anticipated a more friendly regulatory environment. Bitcoin surpassed $100,000 for the first time in December and set a record high above $109,000 on the day of his inauguration, but has tumbled in the weeks since.
Bitcoin fell to $82,200 on Monday morning, with Coinbase and Strategy each down over 3% and 4%. Robinhood was down around 7%, and Mara Holdings around 5%.
