Bitcoin experienced a decline of over 3%, falling to $83,200 as it tested the 200-day simple moving average. The drop comes amid rising macroeconomic concerns, particularly related to the escalating tariff conflicts between the U.S. and China. These issues have taken precedence over President Donald Trump's recent announcements regarding cryptocurrency, including a proposal for a strategic Bitcoin stockpile. As the trade tensions intensify, with China retaliating against U.S. tariffs, market uncertainty has grown significantly. Adding to the precarious situation, Federal Reserve Chairman Jerome Powell has indicated a cautious approach toward interest rates amid expectations of potential cuts this year. Analysts suggest that despite positive developments in the crypto space, concerns over tariffs are fueling bearish trends in Bitcoin and other risk assets, overshadowing bullish sentiment linked to Trump's announcements.

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