Map of American trade policy: Tariffs on states reach into Europe and drive Bitcoin below 92,000

When America and Europe enter into a trade dispute with global repercussions, markets react drastically. Bitcoin and other risk assets face massive selling pressure, while traditional “safe havens” like gold and silver reach record highs. The situation on the American and European political map is dramatically changing and transforming global risk sentiment.

Questioning Stability: How Countries Are Falling into the American “Crosshairs”

On Monday, Bitcoin collapsed below the psychological threshold of $92,000, representing a decline of nearly 3.6% within a few hours. According to the latest TradingView data, the price dropped from $95,450 to a low around $92,000. This sharp fall triggered a wave of aggressive liquidations in derivatives markets — more than $750 million in long positions were closed within four hours, increasing total 24-hour liquidations to over $860 million.

According to data from Coinglass, Bitcoin remains under pressure. While it has partially stabilized around $92,580, traders are aware that something more serious is behind the decline — macroeconomic uncertainty associated with U.S. trade policy and plans to impose tariffs.

Which European territories are most threatened on the American map?

President Donald Trump announced on Monday a plan to impose a 10% tariff starting February 1 on imports from several key European countries. This expanded rate would increase to 25% by June if negotiations fail. Countries and regions in the spotlight include:

• Northern Europe: Denmark, Sweden, and Finland
• Western Europe: France, Germany, and the Netherlands
• Other threatened areas: the United Kingdom and Norway

Including these countries in the U.S. trade dispute points to escalating tensions over larger strategic issues, including the Greenland question, which has become a new focal point of transatlantic relations.

European leaders responded decisively. French President Emmanuel Macron called on the European Union to activate its so-called “coercion tool” — a mechanism often referred to in the media as the “EU trade bazooka.” This sanctions tool would allow Brussels to significantly restrict access of American products to European markets. EU officials are also considering reactivating previously suspended retaliations worth €93 billion ($108 billion).

Flight to Safety: Gold and Silver Outshine Bitcoin

While Bitcoin and stock markets faced sell-offs, capital rapidly shifted into traditional defensive assets. Gold futures rose to a record high of $4,667 per ounce, while silver futures surpassed $93 per ounce — the highest level in history, according to Google Finance.

This shift highlights the growing divergence between the behavior of digital assets and physical commodities during periods of geopolitical uncertainty. U.S. stock futures also traded below opening levels, reflecting rising concerns over escalating trade conflict.

Andri Fauzan Adziima from Bitrue’s research department directly named it: “Trump’s tariff threats against countries revive fears of a trade war and push markets into risk resistance mode. Bitcoin still behaves as a highly volatile technological asset. As macroeconomic uncertainty increases, it takes the first hit.”

Institutional Response: How Major Players Are Positioning

Investors, according to Jeff Mei of BTSE, are currently pricing in the worst possible outcomes. “This time, tariffs target some of America’s closest allies,” Mei noted. “If U.S. markets conclude these threats are credible, institutions may continue reducing their exposure to risk assets.”

Carsten Brzeski, Global Head of Macro at ING, hinted in a CNN interview that Europe is really gearing up for serious play: “At least from initial reactions, some European leaders seem ready to go all in.” This stance suggests that trade tensions between the U.S. and European actors are likely to intensify.

Upcoming Turbulence: How Will the Market Develop?

Analysts warn that Bitcoin’s short-term trajectory will remain highly sensitive to geopolitical events, especially U.S. tariff decisions and Europe’s responses. Inflation expectations and liquidity conditions will also play a key role.

While past macroeconomic sell-offs eventually gave way to renewed upward movements, the current environment favors capital preservation over risk expansion. As gold and silver enter the price discovery process and Bitcoin faces renewed volatility, markets appear set for ongoing turbulence until clarity emerges regarding trade negotiations between the U.S. and the EU on the global political map.

ING analyst’s words summarize the situation: investors are watching how states and regions position themselves within the U.S. trade strategy. Every new vote or statement from Europe’s leading country could reignite selling waves or, conversely, stabilize sentiment.