U.S. Crypto Stocks Plummet as Trump's Trade War Sparks Market Chaos

Hold onto your hats, folks! U.S. crypto stocks are bracing for a brutal open on April 7, thanks to Trump's escalating trade war sending shockwaves through the market. It's a full-blown sell-off out there!

Investors are freaking out over the renewed threat of U.S. tariffs and China's potential retaliation, causing equity futures to nosedive right at the opening bell. It's a bloodbath!

Bitcoin (BTC) took a nosedive below $75,000 over the weekend, dragging down crypto-linked stocks with it. MicroStrategy, holding a whopping 214,000 BTC, reported a staggering $5.91 billion unrealized loss on digital assets for Q1. Ouch!

Despite the massive hit, MicroStrategy didn't buy any more Bitcoin during the quarter. Their shares tanked 9% in pre-market trading, hitting $266.34 after a rough start to 2025. It's a wild ride for these crypto bulls!

Crypto Stocks in Freefall

Coinbase isn't faring any better, with shares sliding as Bitcoin's price slump hammers trading volumes on the exchange. Pre-market trading saw Coinbase drop to $148.90, a brutal 11.65 (7.26%) decline. Yikes!

Just last week, Cathie Wood's Ark Invest scooped up a total of 83,157 Coinbase shares across three ETFs, worth about $13.4 million at current prices. But Coinbase's stock has already shed around 5% over the past week and looks set to keep bleeding.

Marathon Digital Holdings is feeling the pain too, with shares plummeting 10.12 pre-market, a 1.18 (10.44%) drop. Investors are rethinking the company's exposure to Bitcoin mining compared to those holding the tokens directly. It's a tough call!

Riot Platform's stock is at 6.54 in pre-market trading, down 0.60 or 8.40%. Robinhood's shares are at 30.88, a 3.63 or 10.52% dive. It's a crypto stock massacre out there!

These price crashes come as Bitcoin's mining hashrate hits a mind-blowing 1 Zetahash per second, a 1000X surge since January 2016. But U.S. miners are struggling with shrinking profits and skyrocketing equipment costs. It's a double whammy!

This crypto carnage is part of a wider risk-off frenzy, triggered by major stock downturns across Asian, European, and American markets in response to President Donald Trump's tariffs. It's a global meltdown!

Asian markets are reeling from their worst two-day period for Wall Street stocks in five years. Buckle up, because it's going to be a bumpy ride!