US crypto stocks plunge as bitcoin hits new 2025 low
April 7 (Reuters) - U.S.-listed shares of crypto companies tumbled before the markets opened on Monday, mirroring a sharp drop in bitcoin BTC= as escalating tariff tensions and fears of a global trade war triggered a broad retreat from risk assets.
Bitcoin fell as much as 5.5% on Monday to hit its lowest in 2025, and was last trading 2.1% lower.
Corporate bitcoin holder Strategy MSTR.O fell more than 10% in premarket trading, while crypto exchange Coinbase COIN.O dropped 7%. Online brokerage Robinhood HOOD.O slid 10.5% after Barclays slashed its price target, citing concerns the crypto market turmoil could drag down the company's transaction revenue this quarter.
Among the miners, MARA Holdings MARA.O slumped 11% while CleanSpark CLSK.O dropped 10%.
GameStop GME.N, the videogame retailer that last month approved the addition of bitcoin as a treasury reserve asset, fell about 4%.
Though not directly hit by tariffs, crypto firms are still getting hammered as the steepest trade barriers in over a century sap investor sentiment across markets.
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