Bitcoin Mining Stocks Stage Strong Recovery After Trump Tariff Shock
πΊπΈβοΈ Crypto markets and Bitcoin mining stocks saw an impressive rebound following last weekend's record-breaking crash, as investors regained their composure in the wake of former U.S. President Donald Trump's tariff announcement. π Following Friday's $19 billion liquidation event β widely considered the largest in crypto market history β Bitcoin miner stocks surged back on Monday. Bitfarms (BITF) and Cipher Mining (CIFR) led the recovery with double-digit gains, while
πΊπΈβοΈ Crypto markets and Bitcoin mining stocks saw an impressive rebound following last weekend's record-breaking crash, as investors regained their composure in the wake of former U.S. President Donald Trump's tariff announcement. π
Following Friday's $19 billion liquidation event β widely considered the largest in crypto market history β Bitcoin miner stocks surged back on Monday. Bitfarms (BITF) and Cipher Mining (CIFR) led the recovery with double-digit gains, while Hut 8 (HUT), IREN (IREN), and MARA Holdings (MARA) also climbed more than 4%. Other names including Core Scientific (CORZ) and Riot Blockchain (RIOT) both opened in the green.
The rebound came after Trump announced plans to impose 100% tariffs on imports from China, rattling global markets with fears of an escalating trade war. Trump later walked back the remarks, saying his comments were based on a misunderstanding of China's new export regulations, and moved to reassure markets on Truth Social:
"Don't worry about China, everything is going to be fine! President Xi just had a bad moment."
U.S. Treasury Secretary Scott Bessent also followed up by stating that the tariffs were "not necessarily going to happen," signaling a possible de-escalation between the world's two largest economies.
Meanwhile, Bitcoin (BTC) held steady around $113,000, demonstrating greater resilience than altcoins, which took a steeper hit during the sell-off.
Friday's crash, however, inflicted historic damage on the crypto derivatives market, with roughly $19 billion in leveraged positions liquidated β of which Hyperliquid alone accounted for over $10 billion. Exchanges including Bybit and Binance also recorded substantial liquidation volumes.
Notably, Binance faced a wave of criticism after the prices of several tokens on the platform abruptly dropped to zero, which was later confirmed to be a UI display bug. At the same time, USDe β the stablecoin issued by Ethena Labs β lost its peg, adding to the market panic. However, founder Guy Young clarified that the incident occurred on a single exchange only and did not affect USDe's mint or redeem mechanism.
Despite the turbulence, investor sentiment appears to have stabilized, with Bitcoin mining stocks mounting a strong recovery β a sign that confidence is gradually returning to the market following the historic flash crash.