Bitcoin’s price failed to recover the $85,000 level after a sell-off driven by tariff concerns. The cryptocurrency was trading at $82,548.35, down more than 3% on Tuesday, according to Coin Metrics, and was off its all-time high by 23%. Ripple-related XRP and Cardano’s ADA retained some gains from the rally, while Solana’s SOL token reversed its gain entirely. Crypto stocks also declined, with Coinbase and Robinhood shedding 3% and 6%, respectively, and Strategy (formerly MicroStrategy) losing 4%. Risk assets, including cryptocurrencies, suffered steep declines as traders grappled with concerns over proposed tariffs. This overshadowed the excitement around Trump’s announced U.S. “strategic crypto reserve.” Monday’s sell-off triggered long liquidations, with approximately $303 million in bitcoin and $160 million in ether liquidated in the past 24 hours, according to CoinGlass. Investors warn that economic uncertainty could impact bitcoin throughout March, with regulatory clarity being a potential catalyst for price recovery. Deutsche Bank analyst Marion Laboure noted the lack of information on the amount of crypto the U.S. government will buy and how it will be funded, suggesting continued volatility. Investors await updates from the inaugural White House Crypto Summit scheduled for Friday. — news fromCNBC
