EU and US could reach trade deal this weekend - Reuters
Investing.com - Cryptocurrency-linked stocks fell in premarket U.S. trading on Monday, mirroring a decline in Bitcoin that has now extended into five consecutive session.
By 07:11 ET (11:11 GMT) on Monday, Bitcoin, the world’s largest digital token, had slid by 3.3% to $82,264.8. Ether, the no. 2 cryptocurrency, had also fallen by 2% to $2,103.35.
Shares in firms exposed to these assets sank prior to the opening bell on Wall Street. Crypto investor MicroStrategy, which does business as Strategy, dipped by 5.5%. Coinbase (NASDAQ:COIN), which runs the biggest U.S. crypto exchange, declined by 5.6%, and token miners Riot Platforms (NASDAQ:RIOT), Mara Holdings, Bit Digital, CleanSpark (NASDAQ:CLSK) and Hut8 all retreated by more than 4%.
Trump reserve order, crypto summit sparks little cheer
Investors have offered an underwhelming response to President Donald Trump’s announcement last week of the creation of a strategic Bitcoin reserve, while risk appetite has been dented by uncertainty swirling around the potential impact of Trump’s tariff policies.
Trump’s executive order approving the formation of a national Bitcoin reserve also included a stockpile of four other altcoins: Ether, XRP, Solana, and Cardano.
But the pronouncement did not include any fresh crypto purchases by the government, disappointing some in the market. While Trump did instruct his trade and commerce secretaries to explore “budget-neutral” strategies to buy Bitcoin, it was not immediately clear how such purchases would work.
The reserve was the central focus of a summit of crypto industry executives held at the White House on Friday, although the gathering did not yield many details regarding Trump’s plans for regulating the industry.
Trump has previously promised to enact more crypto-friendly policies, saying on the campaign trail before his election to a second term in the White House that he would turn the U.S. into the "crypto capital of the world."