#CryptoTariffDrop The value of Bitcoin decreased late on Wednesday after President Donald Trump's announcement of recent tariffs caused market turmoil.
The leading cryptocurrency was recently traded just above $83,000, having fallen from around $88,000 before Trump revealed trade policies late Wednesday afternoon. Trump officially announced reciprocal tariffs affecting a wide range of countries, including a number of major U.S. trading partners. Stocks rose during the day, but many were severely impacted during after-hours trading.
Risky assets, in particular, declined, with the QQQ exchange-traded fund tracking the tech-focused Nasdaq 100 dropping about 4%.
Many cryptocurrency stocks also fell in after-hours trading. Shares of MicroStrategy (MSTR), the largest Bitcoin buyer, recently dropped about 7%. The cryptocurrency exchange Coinbase Global (COIN) fell about 6%, while shares of Robinhood (HOOD) dropped about 9%
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