Bitcoin tumbles below $92,500 as US-EU tariff war fears intensify

Bitcoin, Ethereum, and the broader crypto market saw a sudden decline, with Bitcoin falling from $95,500 to $92,474 in a few hours, leading to over $750 million in long position liquidations. Analysts attribute this plunge primarily to fears of an escalating trade war between the U.S. and the EU, stemming from President Trump's tariff threats against NATO allies over Denmark's refusal to sell Greenland. EU officials are preparing retaliatory measures. However, some analysts, like Rachael Lucas of BTC Markets, suggest that while geopolitical uncertainty is a factor, the fundamental driver is pre-existing crypto weakness, citing the stalling of the U.S. crypto market structure bill and months of profit-taking after Bitcoin's October 2025 all-time high. Lucas noted that algorithmic selling was triggered by breaking the 50-week moving average, and if macro pressures continue, Bitcoin could fall to the $67,000 to $74,000 range, though the industry is considered more mature than in past downturns.

(Source：The Block)