BTC drops amid Trump's Greenland tariff threats, says report

Bitcoin's price has fallen sharply following U.S. President Donald Trump's threat to impose new tariffs on eight European nations as part of his administration's efforts to purchase Greenland, according to Cointelegraph. The move triggered a sell-off in cryptocurrencies while traditional safe-haven assets like gold and silver rallied. President Trump announced on Saturday that a 10% tariff would be applied to imports from countries including Denmark, France, Germany, and the UK, effective Feb. 1. He warned the rate could rise to 25% by June if a deal for Greenland is not reached. The resulting trade war fears appear to have spurred risk-off sentiment, leading to the liquidation of $860 million in BTC long positions over the past 24 hours. Analysts cited by the report suggest that Bitcoin is behaving like a tech stock, sensitive to macroeconomic shocks, and has decoupled from traditional safe havens.