Bitcoin Price USD Slides Below $92K Following Trump's Tariff Announcement

The bitcoin price in USD experienced a sharp retreat during Saturday evening trading, tumbling roughly $4,000 in a matter of two hours after President Donald Trump announced sweeping new tariff proposals targeting European nations. Around 6 p.m. EST, massive selling pressure flooded the cryptocurrency market, triggering significant liquidation activity across major digital assets. Bitcoin tumbled from approximately $95,500 to an intraday low of $91,935, according to market data, with the bitcoin price USD subsequently stabilizing near $92,600 before continuing its decline to current levels around $88.22K.

Market Liquidations Hit Half-Billion Dollar Mark

The rapid price movement in bitcoin price USD wiped out over $500 million in leveraged long positions within just 60 minutes, with total cryptocurrency liquidations reaching $525 million during the same period. This forced liquidation cascade reflected the market’s sharp repricing as traders scrambled to cover positions amid heightened volatility. The cascade effect demonstrated how quickly sentiment shifts can translate into real losses for those holding leveraged exposure. By the time dust settled, the bitcoin price USD had shed approximately 2.5% over the previous 24 hours, though current data shows a further decline of 4.84% over a seven-day window.

European Trade Tensions Spark Risk-Off Sentiment

The trigger for this market turbulence stemmed from Trump’s announcement of new tariff measures beginning February 1, targeting eight European nations including Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland. The initial 10% tariff proposal would escalate to 25% by June 1 if no agreement emerges. The measures were linked to U.S. efforts to secure Greenland, creating additional political tension across the Atlantic. European leaders responded swiftly and forcefully, warning that the tariff threats risked creating a “dangerous downward spiral,” while Danish Prime Minister Mette Frederiksen stated that Europe would not succumb to pressure. Weekend protests erupted in Denmark and Greenland, adding layers of political complexity to trade negotiations.

Supreme Court Tariff Authority Decision Looms

Beyond immediate trade tensions, the U.S. Supreme Court is preparing to rule on whether President Trump possessed the constitutional authority to impose broad tariffs under emergency powers. The case centers on Trump’s use of the International Emergency Economic Powers Act (IEEPA) to declare trade deficits a national emergency and implement baseline tariffs on most imports. Should the court rule against Trump’s authority, the government could face refund obligations exceeding $100 billion from tariffs already collected—a development that could significantly impact federal revenue assumptions tied to defense and budget allocations. If the court upholds his authority, existing tariffs remain intact and future measures, including those on European goods, could proceed unimpeded. Importers are already strategizing for both scenarios, maintaining “unliquidated” shipments to preserve potential refund claims.

Bitcoin Price USD and Broader Market Metrics

The bitcoin price USD trading dynamics reflect broader risk sentiment deterioration, with the asset trading within a constrained range above its seven-day low of $92,284, down roughly 3% from its seven-day high of $95,468. Current real-time data shows bitcoin price around $88.22K with a 24-hour trading volume of $1.03 billion. The global Bitcoin market capitalization presently stands at approximately $1.76 trillion, down about 2% from previous levels, while the circulating supply remains at 19,980,931 BTC out of a maximum supply capped at 21 million.

Gold prices simultaneously surged to new record highs near $4,670, reflecting a classic risk-off rotation as investors sought traditional safe-haven assets amid macroeconomic uncertainty. The correlation between bitcoin price USD weakness and gold strength underscores the broader market’s reassessment of geopolitical and trade policy risks, with both digital and traditional assets responding to the shifting landscape of U.S. trade policy under renewed tariff administration measures.