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Bitcoin Drops to $81,000 as Crypto-Tied Stocks Fall
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Key Points
- Cryptocurrency-related stocks are cutting some losses, but are still down sharply in intraday trading on Friday, with Bitcoin trading at about $81,000, more than a quarter of its peak in January.
- Bitcoin is under pressure after President Trump says tariffs on Mexico and Canada will come into effect on March 4, while China will impose a 10% tax.
- Although Riot withdraws its losses, its share in Robinhood, Coinbase, Mara and MicroStrategy is still sliding.
Cryptocurrency-related stocks are cutting some losses, but are still falling sharply in intraday trading on Friday, Bitcoin (Bitcoin (btcusd) traded about $81,000, more than a quarter of its peak in January.
Bitcoin is the leading cryptocurrency, Under pressure recent. President Donald Trump said yesterday that the recent decline has accelerated Tariffs in Mexico and Canada It will take effect on March 4 and a 10% levy will be imposed on China. Investors believe tariffs may slow growth and Stoke inflation, which could ruin Reduced interest rates This year, no production will be collected risk Assets like Bitcoin are less attractive.
Bitcoin is now Bear market Territory, with a decline of more than its record high About $109,000 Set last month. Currently, in October before Trump, it was seen as a pro-Clateto candidate, hitting the last blow in October. Recently, though, they have fallen to less than $80,000 overnight.
Stocks of cryptocurrency exchange Coinbase Global (coin) and Mara Holdings, parent company of Marathon Digital (Mara) and trade app Robinhood (hood) All fees fell about 1% on Friday morning, achieving a 2%-3% loss in early trading. Bitcoin Mining and Infrastructure Company RIOT Platform (riot) Now after falling more than 3% in listed trading, it is now up 2%.
Business Intelligence and Bitcoin Finance Corporate Strategy (Mstr) Formerly known as MicroStrategy, it dropped by about 0.5%. The company said on Monday it expanded again Bitcoin Hold, acquire Nearly $2 billion More digital currencies.
Meanwhile, regulators have recently continued to overturn crypto enforcement in the Biden-era era. this Securities and Exchange Commission Confirm that the sacking is recommended later Thursday Two-year lawsuit Oppose joint insertion A few days later Robinhood said regulators have told trading app operators that there will be no penalties for their cryptocurrency business.
Updated – feb. 28, 2025: This article has been updated to include refreshing Bitcoin and stock prices.
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