📉 Trump's trade war hit the crypto market

A new round of confrontation between the USA and China caused a collapse in the stocks of crypto companies and revealed weak points in the corporate structures related to Bitcoin.

💥 After Trump's announcement of 100% tariffs on Chinese goods, the S&P500 index fell by -2.7%, along with:

Coinbase (COIN) -7.75%

Bullish (BLSH) -9.42%

MARA Holdings (MARA) -7.67%

Metaplanet (MTPLF) -2.25%

⚠️ The main blow fell on MicroStrategy (MSTR) — the largest corporate holder of BTC.

The decrease of -4.84% exposed a key issue:

🔸 the mNAV ratio (market capitalization / net asset value) fell below 1.18, the lowest in 19 months.

This is a signal — the company's balance is weakening, and the $16 billion premium to the value of Bitcoin reserves relies solely on investors' faith in Michael Saylor.

🧩 Why this is important:

If mNAV drops below 1.0 — MicroStrategy's debt financing structure may come under pressure, and the "faith premium" will start to melt away faster than the BTC rate.

📊 Key figures:

BTC: $110,740 (-8.7%)

ETH: $3,800 (-12.3%)

BNB: $1,101 (-13.1%)

XRP: $2.42 (-13.6%)

🧠 The market reminds us again: faith is not always a foundation. $BTC $ETH $BNB #TradingSignals #analysis #trump