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Bitcoin Slides After Trump Tariff News; Crypto Stocks Retreat
Bitcoin extended its recent retreat Thursday, with the price of the leading cryptocurrency falling in the wake of President Donald Trump's latest tariff announcement.
Bitcoin slipped below $82,000 before edging just above that level after the late-Wednesday news of new tariffs that shook global markets and eroded investors' interest in risk assets. (Read Investopedia's live coverage of today's markets here .)
The news also hit crypto-related stocks. Strategy ( MSTR ), the Bitcoin buyer that recently changed its name from MicroStrategy, was off more than 7%. Coinbase Global ( COIN ) fell close to 7%, while Robinhood Markets ( HOOD ) slipped about 9%.
Crypto mining company Mara Holdings ( MARA ) fell more than 8%.
Bitcoin's retreat extends a slide from six-digit prices last seen in February following a runup driven by optimism about cryptocurrency in the wake of Trump's election.
The total market cap of cryptocurrency, recently around $2.6 trillion, has fallen some 6% over the past 24 hours, according to CoinMarketCap data.
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