Bitcoin briefly fell below $90,000 in early European trading on Tuesday, extending the weakness that followed Monday’s macro-driven selloff. By Asian afternoon hours, major tokens were still absorbing losses, and derivatives traders remained positioned defensively rather than leaning into a rebound.
Ether held near $3,200. Solana, XRP and Cardano were mixed on the session, but all three continued to show steep weekly losses. Compared with last week’s peak, altcoins have taken a heavier hit than bitcoin, pointing to sharper pressure across higher-risk parts of the market. Price action stayed muted, with no fresh catalyst strong enough to move the market out of its tight range.
Tariff headlines and haven demand weigh on crypto
Macro risk is still the main drag. Renewed tariff threats between the U.S. and Europe, linked to comments by President Donald Trump on Greenland, pushed investors back toward traditional safe havens. Gold and silver moved higher, while cryptocurrencies lagged even as some equity markets held relatively steady.
Farzam Ehsani, CEO of exchange VALR, said digital assets are showing crypto-specific fragility rather than a pure broad-market risk-off pattern. In his view, capital is rotating into established safe havens, while crypto continues to trade like a high-beta risk asset. He added that bitcoin may find it hard to hold elevated levels without clearer signs of rate cuts or renewed institutional inflows.
Higher Treasury yields keep traders cautious
U.S. Treasury yields also climbed as global bond markets sold off on fiscal and geopolitical concerns, adding to pressure on risk assets. With no clear trigger in sight, traders appear willing to stay defensive and wait for something strong enough to break the market out of its current low-volatility stretch.