Cryptocurrency-related stocks in Asia began the week with a sharp decline. Concerns arose among investors following reports that U.S. President Donald Trump might implement new tariffs. This sentiment sparked a wave of selling across the Asian markets, leading to significant losses. Shares of Japan-based Metaplanet dropped by 9.44% on the Tokyo Stock Exchange, as the company had previously announced a goal to reach 10,000 BTC by 2025. Hong Kong-based OKG Tech fell by 9.09%, and Chinese game developer Boyaa Interactive, which has heavily invested in Bitcoin (BTC) 
$109,356, saw its shares decrease by 4.64%.
U.S. Tariffs Strike Hard on Asian Markets
Trump’s announcement regarding potential new tariffs on imports from Canada, Mexico, and China created ripples in the financial markets. U.S. markets reacted negatively to these developments on Friday, and since Asian markets opened after the U.S. exchanges closed, the selling pressure became evident on Monday morning.
Japan’s Nikkei 225 index fell by 2.66%, while South Korea’s Kospi declined by 2.52%. The Hong Kong Hang Seng index remained relatively stable, and the Shanghai Stock Exchange did not operate due to a public holiday.
Investors are worried about the potential rekindling of trade wars. Additional tariffs could reduce trade volume between the U.S. and China, raising risk perceptions in regional markets. The cryptocurrency market is also negatively impacted by this uncertainty.
Asian Cryptocurrency Stocks Experience Severe Drops
Peter Chung noted that the decline in Asian markets was a delayed reaction to developments in the U.S. “The U.S. markets closed negatively on Friday. Since the Asian markets were closed, we only saw this pricing now, resulting in significant sell-offs of cryptocurrency stocks in Asia,” he stated.
The cryptocurrency market continues to be influenced by macroeconomic uncertainties. A general decrease in risk appetite in the markets has led to the selling of Bitcoin and related stocks. Investors are closely monitoring the U.S.’s new economic policies to navigate their next steps.
