Cryptocurrencies traded lower on Sunday with Bitcoin briefly dropping below $80,000 for the first time since March 13.
The decline of digital assets comes amid a broader market sell-off prompted by President Donald Trump's decision to introduce retaliatory tariffs on dozens of countries around the world. Trump's move was met with an immediate response from China, while other targeted countries are also expected to soon announce countermeasures in response to duties announced by Washington.
Bitcoin slid 4.70% to $79,572.675 at 2:21 pm ET, while Ethereum plummeted 8.77% to $1,646.82 at 2:27 pm ET.
