Bitcoin falls below $92,000, tariff concerns weigh on risky assets

Cryptocurrencies plunged sharply, with President Trump threatening to impose tariffs on eight European countries after risk assets fell and safe-haven demand increased. Bitcoin fell 3.6% in early trading on Monday, dropping below $92,000. Other tokens saw even bigger declines, with Ethereum down 4.9% and Solana down 8.6%. Over the weekend, Trump stated that unless an agreement is reached to purchase Greenland, he will impose a 10% tariff on goods from eight European countries starting February 1, with the rate rising to 25% in June. In response to this news, US stock index futures opened sharply lower on Monday, while safe-haven assets gold and silver surged to historic highs. Trump's threats have sparked condemnation from European leaders, who are now prepared to halt the approval of the EU-US trade agreement reached last year.