Bitcoin News Today: Crypto Stocks Tumble 7-16% as Weak Jobs Data and Tariff Threats Spur Risk-Off Sell-Off

Bitcoin and Coinbase stocks experienced significant declines amid economic uncertainty and a broader market sell-off on August 1, 2025, driven by weak U.S. nonfarm payrolls data, ongoing inflation concerns, and renewed tariff threats. Major crypto firms like Coinbase, Riot Platforms, and CleanSpark saw their shares drop between 7% and 16%, reflecting a broader risk-off environment [1]. The U.S. Bureau of Labor Statistics reported only 73,000 new jobs were added in July, well below the expected 100,000, intensifying concerns about a slowing labor market and potential Fed rate cuts later in the year [1]. However, the hotter-than-expected core PCE inflation data complicated expectations for monetary easing, adding to market volatility [1].

The economic data has created a challenging backdrop for crypto stocks, which are often seen as leveraged bets on Bitcoin’s price performance. Bitcoin itself pulled back below $115,000, amplifying losses in the sector [1]. Despite Coinbase reporting $1.5 billion in Q2 revenue, falling transaction volumes reduced net income to $33 million excluding investment gains, disappointing investors [1]. Riot Platforms posted strong earnings but was not spared from the broader market decline [1]. CleanSpark’s stock also fell, aligning with the overall risk-off sentiment rather than any specific company issues [1].

Tariff threats from the U.S. administration added further uncertainty to the markets. Revised tariffs ranging from 10% to 41% were announced ahead of the August 1 trade agreement deadline, including a 40% tariff on goods rerouted to avoid existing duties [1]. These measures raised concerns about the global trade environment and economic growth, putting additional pressure on risk assets like crypto stocks [1].

Jeffrey Schulze of ClearBridge Investments noted that the combination of weak job growth and rising tariffs creates a difficult environment for risk assets. He emphasized that while a Fed rate cut cycle is expected, the current data suggests economic headwinds could persist and negatively impact the labor market in the near term [1]. Fed funds futures are currently pricing in multiple rate cuts this year, but the exact timing and magnitude remain uncertain [1].

The sharp sell-off in crypto stocks highlights the sector’s sensitivity to macroeconomic conditions and investor sentiment. As global markets remain cautious, continued monitoring of labor data, inflation metrics, and trade developments will be essential in understanding future trends in crypto equities and digital assets [1].

Source: [1] Bitcoin and Coinbase Stocks Face Pressure Amid Economic Uncertainty and Market Sell-Off (https://en.coinotag.com/bitcoin-and-coinbase-stocks-face-pressure-amid-economic-uncertainty-and-market-sell-off/)