Bitcoin’s rally faded on Monday as concerns about impending tariffs overshadowed earlier excitement from President Trump’s announcement of a U.S. strategic crypto reserve. Bitcoin dropped 9% to around $85,000, while Ether fell 15% to $2,100.
Cryptocurrency-related stocks also declined, with Coinbase down 5% and Robinhood down 6%. MicroStrategy experienced a reversal, going from a 14% gain at the market open to a 3% drop by afternoon.
Over the weekend, Trump unveiled a crypto reserve that includes Ether, XRP, Solana’s SOL token, and Cardano’s ADA, shifting focus from his prior “bitcoin stockpile” concept.
Previously, Bitcoin had reached $95,000, bringing hope to investors after a recent drop below $90,000—a key psychological level—and a significant risk of further decline to $70,000. Smaller cryptocurrencies have also seen sharper losses.
Source (CNBC)
