Bitcoin (COIN:BTCUSD) edged lower during Asian trading on Monday, paring back part of last week’s rebound as renewed tariff threats from U.S. President Donald Trump — tied to his push over Greenland — unsettled broader risk sentiment.
The pullback in Bitcoin weighed on the wider crypto complex, where several tokens appeared vulnerable to profit-taking after posting modest gains last week.
Bitcoin slid 2.8% to $92,519.6 by 00:56 ET (05:56 GMT). While the world’s largest cryptocurrency gained roughly 5% over the past week, it has now retreated from those recent highs.
Sentiment was also dampened by a delay to a long-anticipated U.S. bill aimed at setting out a clearer regulatory framework for the crypto industry. Lawmakers postponed discussions following objections from parts of the sector, most notably Coinbase, adding another layer of uncertainty for investors.
Greenland tariffs pressure risk assets
Trump said he 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 to transfer Greenland to U.S. control.
European leaders have strongly rejected the proposal, with France reportedly preparing retaliatory economic measures against the United States. The standoff triggered sharp declines across global risk-sensitive markets, amid concerns over strained NATO relations and the possibility of more direct U.S. action related to Greenland.
Trump, who has repeatedly argued that Greenland is vital for U.S. national security, has also raised the possibility of military intervention in the Danish territory. These comments were taken more seriously by markets following the U.S. incursion into Venezuela in early 2026.
While cryptocurrencies are not directly affected by tariffs or geopolitical disputes, such developments typically erode the risk appetite that supports investment in speculative assets. Trump’s repeated tariff threats through 2025 have already coincided with several risk-off episodes in crypto markets.
Heightened caution has also pushed some investors toward traditional safe havens such as gold, rather than digital assets.
Nearly $900m liquidated across crypto markets
Volatility triggered a wave of liquidations across the crypto market, with $869.5 million in positions wiped out over the past 24 hours, according to Coinglass data.
Long positions bore the brunt of the move. Bitcoin alone accounted for about $229.5 million in liquidations, while Ether and Solana saw roughly $154.6 million and $60.5 million erased, respectively.
The weekend selloff effectively reversed much of the tentative recovery seen over the past week, underscoring the fragile state of sentiment across the sector.
Altcoins follow Bitcoin lower
Most major cryptocurrencies moved lower alongside Bitcoin on Monday.
Ether, the second-largest digital asset, dropped 3.5% to $3,199.06. XRP slid 4.7%, falling back below the $2 mark. Solana declined 6.6%, while Cardano and BNB fell 7.8% and 2.3%, respectively.
Losses were also pronounced among memecoins, with Dogecoin down 7.4% and $TRUMP retreating 6.4%.