Markets turned highly volatile after comments from Donald Trump sparked sudden shifts across assets, including crypto.
In a surprise move, the US president announced he is canceling the tariffs that were set to take effect on February 1 against several European countries linked to negotiations over Greenland. Writing on Truth Social, Trump said the decision followed a productive meeting with NATO Secretary General Mark Rutte and progress toward a broader agreement involving Greenland and the Arctic region.
He added that the emerging framework could benefit both the United States and NATO allies, and that the planned tariffs would no longer move forward.
Markets rebounded after initially selling off on the uncertainty. Bitcoin surged back toward $90,000, quickly dropped to around $87,000, and then climbed again near $90,000 within hours.
The rapid price swings triggered a wave of liquidations across crypto markets. Total liquidated positions have reached roughly $1 billion, marking a 40 percent increase over the past 24 hours.
