Crypto Markets Slide as Tariff Fears Trigger Risk-Off Shift, Gold Hits Record Highs

Major cryptocurrencies declined on Monday as renewed tariff concerns triggered a broad risk-off move across global markets, weighing on digital assets while pushing investors toward traditional safe havens.

Bitcoin fell roughly 3.5% on the day, slipping below the $92,000 level, while Ether dropped close to 5% to trade under $3,200. Losses were sharper among higher-beta tokens, with Solana down more than 8% as risk appetite deteriorated.

Risk-Off Sentiment Pressures Crypto Prices

The sell-off was catalyzed by U.S. President Donald Trump’s announcement over the weekend that a 10% tariff would be imposed on goods from eight European countries starting February 1, rising to 25% in June unless an agreement is reached for a “purchase of Greenland.” The news sent U.S. equity-index futures lower at the start of Monday’s trading and contributed to a broad defensive rotation across risk assets.

Crypto markets, increasingly tracking macro sentiment, moved in line with equities as investors reduced exposure to growth-oriented and speculative positions. Total crypto market capitalization fell by approximately 2.6% to around $3.12 trillion during the session.

Liquidations Accelerate the Downturn

Market positioning amplified the decline. More than $600 million in leveraged bullish positions were liquidated over a 24-hour period, according to derivatives data, with long liquidations accounting for the majority of the wipeout.