US crypto stocks slip as bitcoin hits new 2025 low

US-listed shares of crypto companies tumbled on Monday, mirroring a sharp drop in bitcoin as escalating tariff tensions and fears of a global trade war triggered a broad retreat from risk assets.

Bitcoin fell as much as 5.5% to hit its lowest in 2025. Strategy, which holds billions worth of the token on its balance sheet, fell more than 10% and gave back much of the gains from the previous session.

Coinbase dropped 5%. Robinhood slid as much as 14% after Barclays slashed its price target, citing concerns the crypto market turmoil could weigh on the company's transaction revenue this quarter. It pared losses in the afternoon.

The pair have surrendered most of their gains since Donald Trump's victory in November, reflecting the challenges the industry is facing months after it rallied on the president's promise to make the US "the crypto capital of the planet".

"High risk-off sentiment is canceling out optimism about a more clement environment for coins," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Though not directly hit by the new levies, crypto firms are still feeling the effects as the steepest trade barriers in over a century sap investor sentiment across markets. Billionaire investor Bill Ackman warned on Sunday the US might be heading towards an "economic nuclear winter".

The slide could also shake investors' faith in bitcoin's role as a safe-haven during times of turbulence. Advocates have long promoted the token as a hedge against both market volatility and currency fluctuations."Crypto is not that unique from a market asset class perspective. It is a good old-fashioned risk asset. It has to decouple if it's going to be useful," said crypto entrepreneur Trevor Koverko.