MARA Holdings (MARA) experienced a significant plunge of 9.38% in early trading on Thursday, as cryptocurrency-related stocks continue to face pressure from Bitcoin's recent weakness and broader market concerns triggered by President Donald Trump's new tariff announcements.

The world's largest cryptocurrency, Bitcoin, has slipped below the $85,000 mark, pulling down various crypto and blockchain-related companies. Bitcoin's value has declined nearly 9% year-to-date in 2025, reflecting the ongoing volatility in the cryptocurrency market. This instability has strongly impacted stocks like MARA, which are closely tied to Bitcoin's movements.

Adding to the pressure on MARA and other risk assets is the recent announcement by President Donald Trump of new tariffs on US trading partners worldwide. The tariffs include a minimum 10% levy on all exporters to the US and additional duties on countries with large trade imbalances. This move has triggered a broader slump in risk assets, including cryptocurrencies, as investors reassess their positions in light of potential economic impacts and inflationary pressures.

The crypto sector as a whole is experiencing a sell-off, with other major players such as Coinbase Global, Riot Platforms, and MicroStrategy also facing significant declines. As Bitcoin continues to fluctuate and global economic uncertainties persist, companies like MARA Holdings may face ongoing challenges in the short term. Analysts from Fundstrat suggest that the crypto market is in a tough spot until there's a resolution to the ongoing trade tensions, highlighting the interconnectedness of cryptocurrency markets with broader economic policies.