New Delhi, March 4 -- Bitcoin's price dropped by nearly 10 per cent on Monday, as growing trade tensions and uncertainty surrounding the establishment of a U.S. cryptocurrency reserve fund led investors to retreat from risk.

Initially, Bitcoin and other digital assets surged following U.S. President Donald Trump's remarks about creating a national cryptocurrency reserve. However, concerns over the feasibility of the plan soon triggered a sharp decline.

Late in the day, Bitcoin was down 9.47 percent at $85,321.69 each. The cryptocurrency market's total valuation remains above a trillion dollars, with Bitcoin holding the largest share.

Ether, the second-largest digital asset, experienced a decline of over 15 per cent, while other major c...