Bitcoin Tumbles as Trump Tariff Threats Trigger Safe-Haven Rush

Bitcoin prices fell significantly on Monday as investors turned risk-averse following President Donald Trump's announcement of 10% tariffs on eight European nations over Greenland.

The cryptocurrency dropped to $92,000, a 3.6% decline from the previous day's close, while gold surged to record highs near $4,690 amid intensified safe-haven demand.

Ethereum and Solana also suffered losses, with Ethereum declining 4.9% and Solana shedding 8.6%, leading to roughly $600 million in leveraged position liquidations across derivatives markets.

Trump's tariff threats marked a sharp escalation in tensions with NATO allies, prompting the EU to enter discussions on implementing up to €93 billion ($108 billion) in retaliatory tariffs on American products.