Bitcoin before and after Trump's crypto reserve announcement
Shares of Coinbase, Robinhood and Strategy, formerly known as MicroStrategy, were all lower in premarket trading.
Risk assets including cryptocurrencies suffered steep declines on Monday as traders grappled with concerns that proposed tariffs were on track to take effect. That overshadowed the exuberance around Trump's so named U.S. "strategic crypto reserve," which some traders had hoped would pull bitcoin out of a slump. After reaching its record in January, it posted its worst month since 2022 in February.