Key Takeaways
- Bitcoin and stocks tied to the cryptocurrency industry each fell Monday morning, extending a slide that started 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 in cryptocurrency markets hasn’t improved to start this week, as Bitcoin (BTCUSD) and a number of stocks tied to digital currencies are all moving lower Monday morning.
Stocks like cryptocurrency exchanges including Robinhood (HOOD) and Coinbase (COIN) and Bitcoin miners like Mara Holdings (MARA) each fell late last week, along with Strategy (MSTR), the largest corporate holder of Bitcoin. The cryptocurrency also fell over the weekend, following Friday’s 3.3% decline with a 2.1% drop Saturday.
The group declined as investors appeared to move away from both riskier and more conventional assets, with the broader stock market also down on 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.
The price of Bitcoin soared in the weeks following Trump’s November election win as the industry anticipated a friendlier 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 edged lower Monday morning to roughly $82,200, while Coinbase and Strategy were each down more than 3% and 4%, respectively, as Robinhood declined around 7% and Mara Holdings fell around 5%.
