Bitcoin Drops $3,500 As EU Threatens Trump Tariff Retaliation
Cointelegraph
Bitcoin fell nearly $3,500 amid fears of a US-EU trade war sparked by Trump's tariff threats over Greenland.Summary
Bitcoin (BTC) prices dropped 3.6%, falling from $95,450 to below $92,000 on Monday after US President Donald Trump threatened 10% trade tariffs on eight European countries unless negotiations over Greenland began. Europe responded forcefully, with French President Emmanuel Macron urging the EU to activate its “anti-coercion instrument,” or “trade bazooka,” and considering 93 billion euros in retaliatory tariffs. This escalating trade war fear created a risk-off mood, causing significant liquidations in Bitcoin long positions. Conversely, precious metals surged, with gold futures hitting record highs of $4,667 per ounce, as investors moved away from riskier assets like digital currencies.
(Source：Cointelegraph)