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<\/p>\nThe move came after President Donald Trump threatened new tariffs on several European countries unless negotiations over Greenland move forward, rattling investors across asset classes.<\/p>\n
Within hours, Bitcoin slid to below $93,000 according to CoinMarketCap. The rapid drop wiped out leveraged positions at scale, with more than $750 million in long liquidations recorded in just four hours. Total liquidations over the past day climbed past $860 million, underscoring the speed and intensity of the move.<\/p>\n
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While crypto struggled, traditional safe havens surged. Precious metals extended their rally, continuing a clear divergence from digital assets. Gold futures pushed to fresh all-time highs above $4,667 per ounce, while silver crossed $93 per ounce for the first time on record, reflecting a flight to safety as geopolitical risk intensified. Equity futures also traded lower, reinforcing the defensive tone.<\/p>\n
The sell-off followed Trump\u2019s announcement of proposed tariffs starting at 10% on imports from Denmark, Sweden, France, Germany, the Netherlands, Finland, the United Kingdom, and Norway, with rates set to rise to 25% by June if talks fail. The move is tied to broader tensions surrounding Greenland and marks a renewed escalation in US-EU trade relations.<\/p>\n
European officials responded swiftly. French President Emmanuel Macron urged the EU to deploy its so-called \u201canti-coercion instrument,\u201d a mechanism designed to counter economic pressure from external powers. At the same time, EU policymakers are weighing the activation of \u20ac93 billion ($108 billion) in retaliatory tariffs that had previously been delayed.<\/p>\n
Market strategists warned that the rhetoric alone is enough to shift sentiment. Analysts noted that Bitcoin continues to trade more like a high-risk technology asset during periods of macro stress, making it vulnerable when uncertainty spikes. The combination of liquidation cascades and geopolitical headlines amplified downside pressure, even as longer-term fundamentals remain unchanged.<\/p>\n
For now, traders appear focused on worst-case scenarios, with fears that prolonged trade disputes could drive further de-risking once US markets fully open. Until clarity emerges on whether tariffs are implemented or negotiations resume, volatility is likely to remain elevated across both crypto and traditional markets.<\/p>\n