Crypto Stocks Drop as Bitcoin Sinks; Volatility Continues After Trump's Bitcoin Reserve Plan
Bitcoin fell on Monday as volatility in the price of the world's largest cryptocurrency continues following an executive order signed by President Donald Trump to create a strategic bitcoin reserve for the United States.Bitcoin was trading at $81,712, down over 5% but off earlier lows, at 9:42 a.m. Singapore time, according to Coin Metrics.Crypto stocks dropped in premarket trading. MARA Holdings and Strategy fell 6%; Coinbase fell 5%; TeraWulf, CleanSpark, Riot Platforms, and Bitfarms fell 4%.