Crypto Market Turmoil Spreads to Stocks, U.S. Futures Point to Continued Bitcoin Declines
The ripple effect of chaos in the cryptocurrency markets extended to the stocks of crypto-focused companies, with U.S. futures indicating further declines in equities. These movements are expected to push Bitcoin (BTC) toward additional losses, as its price often mirrors trends in U.S. stock markets.
S&P 500 futures dropped by 1.4%, Dow Jones futures fell 1.2%, and futures on the tech-heavy Nasdaq 100 slid 1.7%. Crypto-related stocks took a hit as well, with shares of Japan’s Metaplanet (3350)—known as Asia’s MicroStrategy for its Bitcoin reserves—declining by 9.44% on the Tokyo Stock Exchange. Crypto and blockchain venture fund SBI Holdings also dropped by 3.60%.
In pre-market trading, U.S.-listed companies Coinbase (COIN) and MicroStrategy (MSTR) were down more than 5.9%, while mining stocks such as MARA Holdings (MARA) and Riot Platforms (RIOT) fell by 6%. The T-Rex 2x Long MSTR Daily Target ETF, which tracks 200% of the daily returns of MicroStrategy, dropped by 9.6%.
Pre-market trading, which occurs before the official market session opens, is often marked by increased volatility due to lower liquidity and the participation of select investors like institutional funds.
The crypto market faced a major setback on Monday after President Donald Trump announced new tariffs on imports from Canada, Mexico, and China over the weekend, with additional threats of taxes on the European Union. These developments triggered declines in global stock markets, while the U.S. dollar saw a slight increase. Major cryptocurrencies such as XRP and Ether (ETH) saw significant losses of 25%, reflecting a broader flight of capital from riskier assets.
