Bitcoin extended its recent retreat Thursday, with the price of the leading cryptocurrency falling in the wake of President Donald Trump's latest tariff announcement.

Bitcoin slipped below $82,000 before edging just above that level after the late-Wednesday news of new tariffs that shook global markets and eroded investors' interest in risk assets. (Read Investopedia's live coverage of today's markets here.)

The news also hit crypto-related stocks. Strategy (MSTR), the Bitcoin buyer that recently changed its name from MicroStrategy, was off more than 7%. Coinbase Global (COIN) fell close to 7%, while Robinhood Markets (HOOD) slipped about 9%.

Crypto mining company Mara Holdings (MARA) fell more than 8%.

Bitcoin's retreat extends a slide from six-digit prices last seen in February following a runup driven by optimism about cryptocurrency in the wake of Trump's election.

The total market cap of cryptocurrency, recently around $2.6 trillion, has fallen some 6% over the past 24 hours, according to CoinMarketCap data.

Read the original article on Investopedia