When the U.S. government announced that it would impose reciprocal tariffs on all products imported into the United States, the price of Bitcoin fell.
According to the global virtual asset market monitoring site CoinMarketCap on the 3rd, as of 8 a.m. that day, Bitcoin was trading at $82,528 each. This is a 3% decrease compared to 24 hours earlier and a 4.9% drop from a week ago.
Altcoins are also in a downtrend. Ethereum was traded at $1,790, down 6.09% from 24 hours ago, Ripple at $2.02, down 5.15%, and Binance Coin at $588, down 3.43%.
This downward trend is due to heightened risk-averse sentiment following the U.S. government's announcement of reciprocal tariffs. The reciprocal tariff imposed on South Korea is 25%. China is at 34%, the European Union at 20%, and Japan at 24%.