The price of bitcoin failed to recover the $85,000 level – where it traded before President Donald Trump's announcement of a U.S. crypto reserve sent it soaring – after a sell-off driven by tariff concerns knocked it down.

Bitcoin was down 9.47 percent at $85,321.69 each. The cryptocurrency market’s total valuation remains above a trillion dollars, with Bitcoin holding the largest share.

Government purchases for the “Crypto Strategic Reserve” will include bitcoin and other lesser-known digital tokens, President Donald Trump said on social media.

Bitcoin (CRYPTO: BTC) is now down 18% from an all-time high of $109,000 in mid-January, and trades around the $89,000 level on March 3. Once you analyze Bitcoin's historical track record over more than a decade,

Crypto-equities have rebounded following Donald Trump’s crypto strategic reserve announcement. With just hours until the U.S. market opens, bitcoin (BTC) remains above $92,000, recovering from its recent drop to $78,