U.S.-listed shares of crypto companies tumbled before the markets opened on Monday, mirroring a sharp drop in bitcoin BTCUSD 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% on Monday to hit its lowest in 2025, and was last trading 2.1% lower.

Corporate bitcoin holder Strategy MSTR fell more than 10% in premarket trading, while crypto exchange Coinbase COIN dropped 7%. Online brokerage Robinhood HOOD slid 10.5% after Barclays slashed its price target, citing concerns the crypto market turmoil could drag down the company’s transaction revenue this quarter.

Among the miners, MARA Holdings MARA slumped 11% while CleanSpark CLSK dropped 10%.

GameStop GME, the videogame retailer that last month approved the addition of bitcoin as a treasury reserve asset, fell about 4%.

Though not directly hit by tariffs, crypto firms are still getting hammered as the steepest trade barriers in over a century sap investor sentiment across markets.