Bitcoin fell 3% after U.S. President Donald Trump threatened new tariffs tied to Greenland negotiations. These comments unsettled broader markets over the weekend, with Bitcoin now trading just under $93,000 after briefly topping $97,500 last week.
The White House plans a 10% tariff starting February 1. The rate would rise to 25% by June if talks fail. Affected countries include the UK, Denmark, Norway, Sweden, France, Germany, the Netherlands, and Finland.
European leaders warned of retaliation. A joint European Council statement cautioned against economic escalation, while a new Gallup poll also showed declining public opinion toward the United States. Market reaction extended beyond crypto. The U.S. dollar weakened, according to Bloomberg data. U.S. stock futures also moved lower as risk sentiment softened.