Concerns over tariffs and the recent breach of a crypto exchange may be fueling a decline not seen since President Trump’s election victory in November. Investors in cryptocurrencies are seeing red today.

Cryptocurrencies tumbled Tuesday but launched a tentative rebound, mirroring that of the U.S. stock market, early Wednesday.

Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth.