MARA Holdings (MARA) is experiencing a significant pre-market plunge of 6.28% on Thursday, as cryptocurrency-related stocks continue to feel the pressure from Bitcoin's recent weakness. The world's largest cryptocurrency has been trading below the $85,000 mark, dragging down various crypto and blockchain-related companies in the process.

The downward trend for MARA began in the previous trading session, with the stock already down 6.20% on Wednesday. This decline is part of a broader selloff in the cryptocurrency sector, which has seen Bitcoin lose nearly 9% of its value year-to-date in 2025. Other major players in the crypto space, including Coinbase Global, Riot Platforms, and MicroStrategy, have also experienced significant declines.

Adding to the pressure on crypto stocks is the recent announcement by President Donald Trump of new tariffs on US trading partners worldwide. This move has triggered a slump in risk assets, including cryptocurrencies. The potential economic impact of these tariffs, as warned by JPMorgan's Chief Economist Michael Feroli, could lead to increased prices and affect consumer purchasing power, further contributing to market volatility. As Bitcoin continues to fluctuate and global economic uncertainties persist, companies like MARA Holdings may face ongoing challenges in the short term.