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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%.

Global markets moved lower as investors reacted to President Donald Trump’s renewed threat to impose tariffs tied to his push for U.S. control of Greenland, while fresh data pointed to a slowdown in China’s economy at the end of the year. European officials weighed possible countermeasures, gold surged to new highs and oil prices edged down as traders assessed the risk of escalating trade and geopolitical tensions.

U.S. futures and global equities slide

U.S. equity futures fell sharply on Monday after Trump warned that tariffs could be imposed on a number of European countries unless Washington is allowed to acquire Greenland.

By 03:05 ET, Dow futures were down 404 points, or 0.8%, S&P 500 futures had dropped 66 points, or 1.0%, and Nasdaq 100 futures were lower by 336 points, or 1.3%.

With U.S. cash markets closed for Martin Luther King Jr. Day, the immediate reaction played out in futures trading, while risk aversion spread across European and Asian equity markets.

In a research note, analysts at ING said Trump’s comments — coming after broad-based tariffs imposed last year — have pushed trade tensions into “an entirely new dimension — one driven less by economic logic and more by political motives.”

“The experience of the past 12 months has taught us not to overreact, as not all bold or dramatic announcements have ultimately been implemented. The uncomfortable truth, however, is that some of them have,” the analysts, including Carsten Brzeski and Bert Colijn, wrote.

Europe considers retaliation over Greenland tariffs

European leaders agreed over the weekend to intensify discussions on how to respond to Trump’s tariff threats, with media reports suggesting Brussels is considering tough retaliatory measures if the duties are enacted.

On Saturday, Trump said the U.S. would impose 10% tariffs on exports from eight European countries — Denmark, Sweden, France, Germany, the Netherlands, Finland, Norway and the United Kingdom — until the United States is able to purchase Greenland. He added that the rate would rise to 25% if the effort to acquire the vast, semi-autonomous Danish territory fails.

Trump has argued that securing Greenland is necessary for U.S. national security, a claim European governments have rejected, describing the approach as blackmail.

Ahead of an emergency EU summit scheduled for Thursday in Brussels, member states are expected to debate a range of responses. Options reportedly include a €93 billion package of tariffs on U.S. imports and possible use of the bloc’s “Anti-Coercion Tool,” which could restrict U.S. access to European investment, banking and services markets. Reuters, citing an EU source, said the tariff option currently has the broadest support.

The renewed tariff threat has also cast uncertainty over the future of the U.S.–EU trade agreement reached last year, with European officials indicating they cannot proceed while Washington pursues control of Greenland.

“At this point, the outcome of these new trade tensions is unclear, but what has long been evident is that there is no such thing as trade or tariff certainty anymore,” the ING analysts said.

Gold and silver hit fresh highs

Gold prices jumped to record levels during Asian trading as investors sought safe havens following Trump’s latest tariff warning.

Spot gold rose 1.6% to $4,667.33 an ounce by 02:26 ET (07:26 GMT), after touching an all-time high of $4,690.75 earlier in the session. U.S. gold futures also reached a new peak at $4,697.71 an ounce.

Silver outperformed, climbing more than 4% to a record $94.03 an ounce, supported by both safe-haven flows and its industrial demand profile.

Oil prices ease

Oil prices slipped, giving back part of last week’s gains as markets weighed the growing risk of a trade dispute linked to Greenland.

Brent crude futures fell 0.1% to $59.74 a barrel, while U.S. West Texas Intermediate crude slipped 0.1% to $55.95 a barrel.

Crude had rallied earlier last week on concerns that unrest in Iran could disrupt supplies from the Middle East, which accounts for a significant share of global production. Much of that risk premium faded after Trump said there would be no immediate U.S. military intervention, prompting a pullback before prices stabilised toward the end of the week.

China meets growth target despite slowdown

China’s economy expanded slightly more than expected in the fourth quarter of 2025, according to data released Monday, as stimulus measures and a recovery in consumption helped the country hit its annual growth goal.

Gross domestic product grew 4.5% year on year in the October–December period, matching forecasts but slowing from 4.8% in the previous quarter, marking the weakest pace in three years. On a quarter-on-quarter basis, growth came in at 1.2%, marginally above expectations of 1.1%.

The result brought full-year 2025 growth to 5%, in line with Beijing’s target. Policymakers are widely expected to maintain the same goal going forward, even as China grapples with renewed U.S. trade tensions, subdued consumer spending and a prolonged downturn in the property sector.

Workspace Group PLC (LSE:WKP) announced that Lawrence Hutchings has stepped down as Chief Executive Officer and board director with immediate effect. Charlie Green will assume the role of CEO from 2 February, marking a leadership change at the London-focused flexible workspace operator.

Green joins with extensive sector experience as the co-founder of The Office Group, now known as Fora, which he helped build into one of the UK’s largest flexible workspace platforms, operating more than 70 locations nationwide. During his tenure of more than 20 years, he led the business through several investment cycles, including Blackstone’s majority acquisition in 2017.

The company also confirmed that Tom Edwards-Moss will take up the role of CFO Designate on 23 February, as previously announced in December. Existing chief financial officer Dave Benson will remain in post until 30 April to support a smooth handover.

Workspace said it will publish its third-quarter trading update on 21 January and noted that performance over the quarter has been in line with management expectations.

Chair Duncan Owen thanked Hutchings for his contribution to the business and highlighted the board’s continued commitment to the “Fix, Accelerate and Scale” strategy that was developed under his leadership. Owen said Green’s background in scaling flexible workspace platforms and driving operational performance positions him well to accelerate execution of the group’s existing strategy.

Hutchings described his time leading Workspace as a privilege and said he was proud of the platform established for future growth. Green said he was “hugely excited” to take on the role, adding that he has long admired Workspace and sees significant opportunity ahead, supported by its portfolio of distinctive buildings and customer-focused proposition.

More about Workspace Group

Workspace Group PLC is London’s leading owner and operator of flexible workspace, providing offices, studios and light industrial space across a diverse portfolio of characterful properties. The group focuses on supporting small and medium-sized businesses with flexible leases and value-added services across the capital.

Allergy Therapeutics plc (LSE:AGY) reported first-half revenue of £36.3 million for the six months ended 31 December, representing year-on-year growth of 7%, despite the continued phase-out of unregistered products in the German market.

A key development during the period was the start of commercialisation of Grassmuno, the company’s newly approved subcutaneous grass pollen immunotherapy. Sales began in January following marketing authorisation from German regulators in December, marking the first new product launch in Germany’s subcutaneous immunotherapy market in two decades.

The group ended December with cash of £10.1 million, compared with £12.8 million at the end of June 2025, reflecting the repayment of all outstanding shareholder loans. During the period, Allergy Therapeutics received £55 million from warrant exercises by shareholder lenders, which was used to eliminate its financial debt. The company also confirmed it now has access to £70 million of uncommitted funding facilities as it explores a potential dual primary listing on the Hong Kong Stock Exchange.

Chief executive Manuel Llobet described the German approval of Grassmuno as a “pivotal moment” for the business, particularly ahead of the conclusion of the German allergen ordinance (TAV) process later this year. He noted that this regulatory transition is expected to lead to the withdrawal of competing products that fail to meet updated requirements.

Progress also continues across the pipeline, with the VLP Peanut programme — focused on developing a next-generation peanut allergy immunotherapy — delivering encouraging interim results. Chairman Peter Jensen said securing German registration has validated the company’s clinical trial approach, which can now be applied to additional allergy indications such as birch and ragweed.

Allergy Therapeutics expects to publish its interim results in March and said it remains confident in delivering revenue growth for the full year ending 30 June 2026.

More about Allergy Therapeutics

Allergy Therapeutics plc is a UK-based biotechnology company specialising in allergy immunotherapies. The group develops and commercialises treatments for allergic conditions, with a focus on subcutaneous and next-generation immunotherapies across multiple indications, supported by a growing clinical pipeline and expanding international footprint.

Ashtead Technology Holdings plc (LSE:AT.) reported a robust set of full-year results for 2025, with revenue rising 21% year on year to approximately £203 million, up from £168 million in 2024. The group delivered organic growth of 3%, reflecting continued demand for its subsea technology solutions alongside contributions from recent acquisitions.

The company said its adjusted EBITA margin is expected to come in at the top end of its medium-term target range, with profit performance slightly ahead of market expectations. Revenue momentum improved in the second half of the year, with H2 sales around 5% higher than the first half, supported by the mobilisation of longer-duration projects that had been delayed earlier in 2025.

Ashtead Technology also confirmed the successful integration of Seatronics and J2 Subsea, both acquired in the fourth quarter of 2024. Management said integration synergies were delivered ahead of plan, while lower-margin activities within the acquired businesses were reduced, contributing to improved overall profitability.

Strong cash conversion during the year enabled the group to reduce leverage to below 1.4 times at year end. Net debt is expected to fall further, to under 1.0 times by the end of 2026. Looking ahead, the company plans to invest around £35 million in capital expenditure during 2026 to support future growth.

Commenting on the results, chief executive Allan Pirie said the group was pleased with its financial performance and had made meaningful progress in expanding its international footprint and broadening its customer offering. Management reiterated its focus on executing strategic growth initiatives and expressed confidence in the company’s ability to deliver shareholder value over the medium term.

More about Ashtead Technology Holdings plc

Ashtead Technology Holdings plc is a provider of specialist subsea technology solutions to the offshore energy and marine industries. The group supplies equipment and services that support the inspection, maintenance and monitoring of subsea infrastructure, with operations serving customers across global offshore markets.

SigmaRoc (LSE:SRC) said it now expects to exceed its 2025 earnings-per-share guidance by around 10%, supported by strong synergy delivery and disciplined cost control. Underlying EBITDA is forecast to rise by more than 16% to over £262 million on revenue of £1.04 billion, with a marked improvement in profitability despite softer end-market volumes.

The group reported that underlying EBITDA margins have increased to around 25%, reflecting the benefits of integration synergies from recent acquisitions in the UK and Poland, alongside deliberate volume reductions linked to network optimisation. Covenant leverage has been reduced to approximately 1.8 times, while return on invested capital has improved to above 12%. Management highlighted that its €40 million recurring synergy target has been achieved two years ahead of schedule.

Strategic progress during the year included the disposal of three non-core businesses, the launch of a refinancing initiative to expand funding capacity for future acquisitions, and continued advancement across ESG priorities, including kiln decarbonisation. SigmaRoc’s ventures arm also remained active, supporting innovation and longer-term growth opportunities as the group consolidates its position in European lime and limestone markets.

Looking ahead to 2026, management struck a cautiously optimistic tone, citing potential tailwinds from German infrastructure stimulus, signs of stabilisation in the European steel sector, increased defence and green-economy investment, and more supportive financial conditions. At the same time, the group said it remains focused on cost discipline amid ongoing weather-related and geopolitical risks.

From an investment perspective, SigmaRoc’s outlook is underpinned by strong financial performance, improving margins and supportive technical indicators, alongside a stable balance sheet. These strengths are partly offset by a relatively high valuation multiple and the impact of recent project setbacks, which slightly temper the otherwise positive medium-term view.

More about SigmaRoc

SigmaRoc is a European producer of lime and limestone products serving construction, steel and a range of industrial end-markets across the UK, Ireland, Benelux, Germany, the Nordics and Central Europe. The group has pursued a strategy of growth through acquisitions, portfolio optimisation and an expanding ventures arm, while positioning itself around long-term structural themes such as decarbonisation, sustainable construction and electrification.

Helium One Global (LSE:HE1) has started electrical submersible pump testing at the ITW-1 well within its Southern Rukwa Helium Project in Tanzania, marking a further step in the appraisal of its recent helium discovery. The programme follows the completion of wireline logging and the mobilisation of specialist equipment to site.

The company said the ESP assembly is being deployed to access deeper fractured Basement and Karoo formations, with the objective of improving flow rates and enhancing helium production. Testing is expected to run over a two- to three-week period and is intended to provide additional data to support the potential commercial development of the Rukwa resource.

Management described the start of pump testing as continued operational progress toward commercialising the discovery, as the project moves through appraisal and development phases.

From an investment perspective, Helium One’s outlook remains constrained by weak financial fundamentals, including the absence of revenue, ongoing losses and significant cash outflows. These challenges are partly offset by a strong event-driven narrative, with first gas and near-term sales targeted, alongside constructive technical momentum in the shares. Valuation remains pressured due to negative earnings and the lack of dividend visibility.

More about Helium One Global Limited

Helium One Global Ltd is a helium exploration and development company focused on addressing supply constraints in the global helium market. The group is the primary helium explorer in Tanzania, where its flagship Southern Rukwa Project has progressed into appraisal and development following a confirmed helium discovery at Itumbula West-1. Helium One also holds a 50% working interest in the Galactica-Pegasus helium development project in Colorado, which has delivered commercially promising helium and CO₂ flows and began bringing initial wells into production in late 2025.