Bitcoin (BTC-USD) on Thursday sank below the $80K mark as trade tensions between the U.S. and China flared, hampering valuations across asset classes.

After a brief reprieve Wednesday, bitcoin (BTC-USD) reversed course, sliding 3.7% to $79.5K as of 3:25 p.m. ET. That's a complete U-turn from the prior session's more than 8% spike stemming from President Donald Trump's 90-day tariff pause, which may not be as positive as it sounds. A firm level of near-term technical support seems to hold near $75K, tested twice since April 7.

Ether (ETH-USD) was one of the biggest intraday losers among crypto tokens, retreating 9.2% to $1.51K. Elsewhere, Uniswap (UNI-USD) dropped 7.9%, Solana (SOL-USD) -6.5%, Sui (SUI-USD) -6.5%, MarketMove (MOVE-USD) -6.1% and Stellar (XLM-USD) -6%.

At the same time, the three major U.S. stock indices fell sharply as market participants were back in selloff mode. Fueling fresh unease, an earlier White House update confirmed that the tariff rate against China is now actually 145%, not 125% as conveyed on Wednesday. 

Among some of the crypto-focused stocks on the move include: Strategy (MSTR) -8.8%, Coinbase (COIN) -2.9%, Galaxy Digital (OTCPK:BRPHF) -2.7%, Riot Platforms (RIOT) -7.5%, MARA (MARA) -4.9% and Hut 8 (HUT) -6.2%.

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