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.

Financial Bitcoin plunged 8% in the 48 hours following the policy change to a low of $93,000 before rebounding on Monday. XRP and Ethereum were hit even harder by the news, falling 33% and 22% respectively before regaining some of their losses after Trump walked back part of the policy.

Bitcoin was struggling for direction Tuesday as investors weighed up how President Donald Trump’s trade policies will affect cryptocurrency prices. The world’s largest token climbed when Trump paused plans for 25% tariffs on goods from Mexico and Canada,