Bitcoin dips 10% on Donald Trump’s strategic crypto reserve move; other cryptos down 20%

Bitcoin’s price dropped by nearly 10 per cent on Monday, as growing trade tensions and uncertainty surrounding the establishment of a U.S. cryptocurrency reserve fund led investors to retreat from risk.

Initially, Bitcoin and other digital assets surged following U.S. President Donald Trump’s remarks about creating a national cryptocurrency reserve. However, concerns over the feasibility of the plan soon triggered a sharp decline.