Tariff concerns drag crypto lower while gold surges to fresh records.

Cryptocurrency markets came under broad pressure on Monday, with major tokens sliding as renewed fears over U.S. tariffs prompted a risk-off turn across global assets.

Solana fell more than 6% over the past 24 hours, while XRP dropped about 4% and dogecoin slid over 7%, according to CoinGecko. Ether declined roughly 3% to trade near $3,200. Bitcoin outperformed relative to peers but still dipped below $93,000, down around 2.5% on the day.

The selloff followed comments from U.S. President Donald Trump over the weekend signaling that the U.S. plans to impose a 10% tariff on goods from eight European countries starting Feb. 1, with rates set to rise to 25% in June unless a broader agreement is reached. The remarks unsettled markets and pushed investors toward defensive positioning.

Digital assets moved in tandem with traditional risk markets. U.S. equity-index futures fell sharply in early trading, with Nasdaq 100 futures down more than 1%, while European futures also retreated as trade concerns resurfaced. Asian markets were mixed, though most indices recorded modest declines.

Haven assets rallied as risk appetite faded. Gold and silver climbed to record highs, European government bond futures advanced, and the U.S. dollar weakened against several major currencies as investors sought safety ahead of the U.S. trading session.

Liquidations accelerated alongside the downturn. Roughly $600 million in bullish crypto positions were liquidated over the past 24 hours, according to CoinGlass, with long positions making up the majority. Bitcoin open interest fell as traders pared back leverage.

The pullback comes after a strong start to the year for crypto markets. Bitcoin surged to just below $98,000 last week on the back of robust inflows into U.S.-listed spot ETFs, with altcoins rallying in tandem. Monday’s decline suggests investors are reassessing exposure as macro risks reassert themselves.

Altcoins absorbed most of the selling pressure, a common feature of risk-off periods as traders rotate out of higher-beta tokens and into more liquid assets. Market participants are now watching whether bitcoin can hold support around the $90,000 level, which could determine whether the broader pullback stabilizes or deepens.

For now, cryptocurrencies remain tightly linked to global risk sentiment, leaving prices highly sensitive to further developments in trade policy, geopolitics and monetary conditions.