Bitcoin tumbles below $92,000 as tariff worries hit crypto
Bitcoin slid 3.6% to under $92,000 on Monday after new US tariff threats from President Donald Trump rattled markets.
Over $600 million in bullish crypto bets were wiped out in just 24 hours, according to CoinGlass.
Why does this matter?
The drop wasn't just about Bitcoin—Ether fell nearly 5%, and Solana sank over 8%.
Earlier in the week, Bitcoin rose to just shy of $98,000 amid strong inflows into U.S.-listed ETFs.
For anyone following crypto, it's a reminder of how quickly global politics can shake up digital assets.
What's behind the drop?
Trump announced fresh tariffs on several European countries, with rates set to jump even higher by June if no deal is reached.
The EU is already talking about hitting back.
Co-founder of hedge fund DACM Richard Galvin summed it up: "more a risk-off move than anything crypto-specific."