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Trump’s remarks triggered massive liquidations and a 3% drop in Bitcoin
The decline in Bitcoin and other risk assets followed threats by U.S. President Donald Trump to impose 10% tariffs on goods from eight European countries starting February 1. If no agreement is reached, the tariff rate is set to rise to 25% from June 1.
As a result, Bitcoin fell 3.6% to below $92,000 on Monday morning, while approximately $600 million in long cryptocurrency positions were liquidated as traders reduced leverage.
Overall, the sudden drop in Bitcoin triggered more than $865 million in liquidations across the crypto market.
Around 90% of these liquidations came from investors who had been betting on a continuation of last week’s strong bullish trend.
Bitcoin’s дальнейший trajectory depends on a narrow breakout zone. A decisive move above $94,600 would indicate a likely end to the corrective phase. If Bitcoin breaks below the psychologically important $90,000 level, the path of least resistance would turn bearish.
The upcoming trading sessions will be crucial in determining which scenario plays out. In any case, the current pullback appears to be temporary.
See also: "Iranians invested $7.78 billion in cryptocurrencies amid the collapse of the rial"
