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Key Takeaways
- Bitcoin and crypto-related stocks fell Monday, extending last week's losses in the wake of President Donald Trump's latest tariff announcement.
- The Trump administration showed no signs over the weekend of backing down from its plan to impose wide-ranging tariffs.
- Bitcoin's price fell to around $76,000 Monday, down from above $100,000 in February.
Bitcoin and crypto stocks fell on Monday, extending the losses from last week following President Donald Trump’s latest tariff announcement.
Bitcoin dropped below the $80,000 mark over the weekend, and was trading at around $76,000 as of early Monday. The cryptocurrency traded at over $100,000 in February.
Shares of Strategy, the Bitcoin buyer that was formerly known by MicroStrategy (MSTR), plunged 12% while Coinbase (COIN), a crypto exchange, lost 9%. Bitcoin miners Riot Platforms, (RIOT), and Mara Holdings, (MARA), also fell by around 9%. Robinhood, a popular trading app, saw shares fall more than 10%.
China announced Friday that it would take retaliatory action against the Trump Administration for its refusal to back down from its plan of imposing wide-ranging tariffs. This sent the major indexes downward. (Read Investopedia’s live coverage of today’s market action here.)
