Bitcoin fell 3.5% Tuesday as President Donald Trump’s expanding tariff policies continue to rattle crypto markets.

Bitcoin dropped to $79,000 following Trump’s announcement of additional 25% tariffs on Canadian steel and aluminum imports before rebounding to $81,200 as U.S. stock markets opened.

This decline marks the latest chapter in a tumultuous period for Bitcoin, which has struggled to maintain momentum amid escalating trade tensions.

The market reaction reflects growing concerns about how protectionist trade policies might impact the broader economy. When Trump first announced sweeping tariffs on China, Mexico, and Canada in early February, Bitcoin tumbled below $100,000, wiping approximately hundreds of billions from the crypto market.

Overall, Bitcoin is up almost 6% over the past 12 hours after touching $77,000 overnight.