Bitcoin (COIN:BTCUSD) weakened during Asian trading on Monday, giving back part of last week’s gains as renewed tariff threats from U.S. President Donald Trump — linked to his push over Greenland — weighed on global risk sentiment.
The pullback in Bitcoin spread across the broader crypto market, where several tokens came under pressure as investors locked in profits following last week’s rebound.
The world’s largest cryptocurrency fell 2.8% to $92,519.6 by 00:56 ET (05:56 GMT). Bitcoin had climbed about 5% over the previous week, but has since slipped back below those recent peaks.
Market sentiment was further dented by delays to a highly anticipated U.S. bill intended to set out a clearer regulatory framework for the crypto industry. Lawmakers postponed debate after objections from industry participants, most notably Coinbase, adding to near-term uncertainty.
Tariff threats over Greenland hit risk assets
Trump said the U.S. plans to impose import tariffs of up to 25% on several major European economies — including Denmark, France and the UK — until an agreement is reached allowing Washington to take control of Greenland.
European leaders have rejected the proposal, with France reportedly preparing economic countermeasures against the United States. The standoff triggered sharp declines across global risk-sensitive assets, as investors grew concerned about strains within NATO and the possibility of more direct U.S. action related to Greenland.
Trump has long argued that Greenland is critical to U.S. national security and has also raised the possibility of military intervention in the Danish territory. These remarks carried added weight after the U.S. incursion into Venezuela in early 2026.
Although cryptocurrencies are not directly affected by tariffs or geopolitical disputes, such developments typically reduce the risk appetite that supports investment in speculative assets. Trump’s tariff threats throughout 2025 were accompanied by repeated bouts of risk aversion in crypto markets.
Heightened caution has also driven some investors toward traditional safe havens such as gold, at the expense of digital assets.
Liquidations surge across crypto markets
The shift in sentiment triggered heavy liquidations across crypto markets, with $869.5 million in positions wiped out over the past 24 hours, according to Coinglass.
Long positions accounted for the majority of the losses. Bitcoin alone saw around $229.5 million in liquidations, while Ether and Solana recorded approximately $154.6 million and $60.5 million, respectively.
The selloff effectively erased most of the tentative recovery seen over the previous week, underscoring how fragile sentiment remains across the crypto sector.
Altcoins extend losses
Most major cryptocurrencies traded lower alongside Bitcoin.
Ether slipped 3.5% to $3,199.06, while XRP fell 4.7% to move back below the $2 level. Solana dropped 6.6%, and Cardano and BNB declined 7.8% and 2.3%, respectively.
Losses were also widespread among memecoins, with Dogecoin down 7.4% and $TRUMP sliding 6.4%.
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