Bitcoin's down move was more modest than that of other cryptocurrencies. Ether plunged 12% to around $2,600. It was trading above $3,300 Friday. Meme coins were among the hardest hit.
Jeff Park, Bitwise Asset Management's head of alpha strategies, said a sustained tariff war would be "amazing" for bitcoin in the long-run due to an eventual weakening of the dollar and U.S. rates.