Crypto stocks down as bitcoin falls after Trump's tariff announcement

Crypto and blockchain-related stocks fall in premarket trading

Bitcoin BTC=, the world's biggest cryptocurrency, falls 2.4%, while Ether ETH= down 3.1%

U.S. President Donald Trump late Wednesday unleashed sweeping tariffs on dozens of rivals and allies

Tariffs have rattled confidence and deepened concerns over global trade war, sparking a sell-off in risky assets

Research boutique firm Fundstrat says crypto is in a tough spot until someone blinks

"The ongoing trade war remains the dominant driver of crypto’s next move," says Sean Farrell, head of digital asset strategy at Fundstrat

"We turn bullish if other countries concede or if economic weakness results in a fiscal or monetary response"

Crypto exchange Coinbase COIN.O falls 4.2%, bitcoin bull Strategy MSTR.O down 3.5%

Bitcoin miners CleanSpark CLSK.O, Riot Platforms RIOT.O, and MARA Holdings MARA.O fall 5.4%, 4.7%, and 4.5%, respectively

iShares Bitcoin Trust IBIT.O and ProShares Bitcoin Strategy ETF BITO.P fall nearly 4%