Bitcoin sank Thursday as investors continued to flee riskier assets after President Trump ratcheted up the trade war.

The largest cryptocurrency recently traded around $82,000, down more than 4% from 24 hours ago, according to CoinDesk.

The token had climbed toward $88,000 ahead of President Trump’s announcement before erasing gains.

Smaller cryptocurrencies were hit harder, with ether and the Ripple-linked XRP token down more than 5%.

Crypto stocks fell sharply. Shares of crypto exchange Coinbase Global fell 10%, while bitcoin-buying software company MicroStrategy was down 8%.

Bitcoin had a blistering rally in the weeks after the election victory of President Trump, who has embraced crypto and vowed to make the U.S. the “undisputed bitcoin superpower.”