Bitcoin price falls after US reclaims Colonial Pipeline crypto ransom

The price of bitcoin fell Tuesday, one day after US officials announced that they managed to recover most of the bitcoin that was paid as ransom to the Colonial Pipeline hackers.

Bitcoin traded almost 12 percent lower on Tuesday. The crypto was exchanging hands at about $31,800 per coin as of noon ET. Other cryptos such as ether, binance coin, cardano and dogecoin also saw double-digit drops. And shares of crypto exchange Coinbase fell more than 4 percent in midday trading.