Crypto Mining Stocks Rally After Trump Tariff Misstep
Bitcoin mining stocks bounced back on Monday after misinterpreted remarks by President Trump about 100% tariffs on Chinese imports triggered a sharp sell-off in risk assets. Bitcoin mining stocks regained momentum as clarifications from the White House and Treasury Secretary Scott Bessent dispelled policy concerns, prompting equities like Bitfarms, Cipher Mining, Hut 8, IREN, MARA, Core Scientific and Riot Blockchain to gain over 10% as funding rates normalized and order books recovered. The wider crypto market endured record volatility, with Friday’s flash crash liquidating around $19 billion in positions—$10.3 billion on Hyperliquid alone—and altcoins falling more steeply than Bitcoin. Traders also noted Binance UI glitches and the temporary depegging of Ethena Labs’ USDe due to an oracle issue. Risk was repriced rapidly, as eased tariff rhetoric and lower leverage supported a market rebound.
Bullish
The clarification of tariff policy reduced regulatory uncertainty, driving a swift rebound in Bitcoin mining stocks and broader risk appetite. Record $19 billion liquidations cleared excessive leverage, resetting funding rates and deepening order books, which supports a bullish outlook. Although volatility spiked, traders repriced risk based on eased rhetoric, suggesting sustained momentum in the short term. In the long term, policy clarity and lower leverage may underpin more stable growth in crypto equities and Bitcoin itself.