Asian Cryptocurrency Stocks Take a Hit as Bitcoin Falls to Three-Week Low Amid Trade War Fears

Asian cryptocurrency stocks suffered losses as Bitcoin dropped to its lowest level in over three weeks, leading to a broad market sell-off. Metaplanet and SBI Holdings, two of Japan's biggest crypto and blockchain technology investors, saw their stock prices fall by 9.44% and 3.60%, respectively. Hong Kong's OSL Group and Boyaa, both publicly traded crypto firms, also experienced losses. The declines are believed to be linked to the recent tariffs imposed by the US on imports from Mexico, Canada, and China, which have led to fears of a potential trade war and a broad sell-off in risk assets, including cryptocurrencies.