Bitcoin down, gold futures up as Europe threatens ‘trade bazooka’
Bitcoin fell 3.6% as gold futures hit record highs after the EU threatened to retaliate against Trump’s tariffs on eight European countries over Greenland.
Bitcoin fell almost $3,500 on Monday as Europe hinted at retaliatory measures against US President Donald Trump, who threatened new trade tariffs unless negotiations could begin over Greenland.
Bitcoin (BTC) prices dumped 3.6% in a matter of hours, falling from $95,450 to just below $92,000 on Coinbase in early trading on Monday morning, according to TradingView.
Around $750 million in long positions were liquidated in four hours, bringing total 24-hour liquidations to over $860 million, according to Coinglass. The asset had marginally recovered from its weekly low, trading at $92,580 at the time of writing.