Overview
- Bitcoin dropped from about $95,500 to an intraday low near $91,935 in roughly two hours before stabilizing around $92,600.
- Forced liquidations ran into the hundreds of millions, with reported totals ranging from about $525 million to more than $865 million.
- The sell-off followed Trump's plan to levy a 10% U.S. tariff on goods from Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland, rising to 25% by June 1 if no agreement is reached, which he linked to efforts concerning Greenland.
- Major altcoins fell alongside Bitcoin, with Ethereum, XRP, Solana, and Dogecoin losing roughly 2.8% to 7.8% as stock futures eased and spot gold set a record near $4,680.
- Analysts describe the move as a macro risk-off episode and expect tighter trading with potential support forming in the mid-$80,000s.