Bitcoin suffered a sharp sell-off Monday morning, dropping from $95,000 to a low of $91,000 — a mini version of the infamous Nov 10 crash. The price has since stabilized around $93,000, but altcoins faced even heavier losses. Over $860 million in leveraged positions were liquidated across crypto exchanges, with long positions accounting for $780 million of the total.
Gold Hits Record $4,600 as Safe-Haven Demand Surges
Spot gold broke above $4,600 per ounce, setting a new all-time high on the same day. Traders attribute the risk-off move to President Trump’s weekend announcement of a 10% tariff on Denmark and seven other European nations. Escalating trade tensions have reignited geopolitical fears, pushing capital into gold while draining risk assets. With U.S. markets closed for a holiday, crypto became the first liquidity sink.
BTC Slips Below Short-Term Trendline; More Pain Ahead?
On the daily chart, Bitcoin has again fallen below its short-term trendline, signaling exhausted bullish momentum. This week's crowded geopolitical calendar — U.S. tariffs on Europe, Iran tensions, Bank of Japan rate decision, and Japan's lower house dissolution — could keep markets on edge. Analysts suggest BTC will likely consolidate at lower levels, and any mid-week bounce might be short-lived. The biggest risk looms Friday: after Japan’s rate decision, weekend risk aversion could drag BTC back toward $91,000. A break below that level may trigger a cascade of liquidation across the crypto market.