Investing.com– Bitcoin lost ground on Tuesday, retreating further from recent peaks as risk appetite was rattled by President-elect Donald Trump threatening more trade tariffs on China and other countries.
The world’s largest cryptocurrency was also hit with a wave of selling pressure, likely profit-taking, after it failed to breach the coveted $100,000 level last week.
fell 2.1% to $93,417.0 by 09:58 ET (14:58 GMT). The coin hit a record high of over $99,000 last week, but has pulled back sharply since.
Bitcoin’s rally was driven chiefly by optimism over improved regulations under Trump. But the prospect of Trump imposing more tariffs on U.S. trading partners soured risk appetite.
Risk sentiment rattled by Trump tariff threat
Trump said he will impose a 10% import tariff on China and a 25% import tariff on Canada and Mexico to curb illegal immigration and illicit drugs…
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