The crypto sell-off accelerated on Friday, briefly dragging bitcoin under $80,000. Tariff fears have weighed on bullish sentiment generated by Trump's election.

Donald Trump’s supporters have lost more than $12bn (£9.5bn) in a month after the value of the president’s cryptocurrency collapsed.

Investors unnerved by the prospect of U.S. President Donald Trump's impending tariffs drove a wave of selling on Friday that hit risk-sensitive currencies such as the Australian dollar and sent bitcoin tumbling,

Bitcoin's drop is part of a wider rout in which over $800 billion of nominal value "has been wiped off global cryptocurrency markets in recent weeks, as the enthusiasm that swept the crypto industry after Donald Trump's election victory last year ebbs away," the Financial Times wrote today.

The original cryptocurrency has fallen 28% from its all-time high of $109,000 just last month, tumbling to $78,000 on Friday. The currency’s recent downturn is symptomatic of economic pressures that have been weighing on the crypto and stock markets for the last few weeks,

KEY TAKEAWAYS Cryptocurrency-linked stocks are dropping Friday. Bitcoin fell to around $80,000, bringing the token to more than a quarter off its January peak.Bitcoin is under pressure after President Trump said that tariffs on Mexico and Canada would go into effect on March 4,