The uncertainty plaguing markets could weigh on the largest cryptocurrency, with investors likely to pivot away from riskier assets.

Bitcoin price took another hit as Trump’s trade war intensified, disturbing global markets. As inflation and political uncertainty were already weighing on investors, this latest development added more pressure.

“A tidal wave of fear, uncertainty and doubt (FUD) has been unleashed across the cryptocurrency market after U.S. president Donald Trump’s Friday tariff announcement,” Petr Kozyakov, chief executive crypto payment platform Mercuryo, said in emailed comments.