Bitcoin (BTC) has declined by more than 15% since Feb. 3—when US President Donald Trump threatened to impose tariffs on China, Mexico, and Canada—and was trading for as low as around $86,400 as of March 5.

Bitcoin's fundamentals held up well during the latest dip, suggesting underlying strength, Swissblock analysts said.

President Donald Trump’s 25 percent tariffs on the United States’ largest trading partners heighten fears of an all-out trade war and higher prices for consumers. Canada and China immediately retaliated;

US Commerce Secretary Howard Lutnick has confirmed that the Trump administration will unveil plans for a strategic Bitcoin reserve at the upcoming White House Crypto Summit on March 7. In an interview with The Pavlovic Today,

After taking a massive tumble in February, crypto markets rallied on Sunday following Donald Trump’s announcement that he would create a national crypto strategic reserve. Trump wrote on Truth Social that a working group would “move forward” on facilitating the strategic federal purchases of Bitcoin,