Bitcoin sank to a fresh weekly low under $91,000 while gold rocketed to an all-time peak near $4,730/oz as the Greenland stand-off between the U.S. and Europe escalated.
At a Glance
- BTC fell from $93,500 to under $91,000 in 12 hours
- Gold surged $120 to a new record above $4,730/oz
- Trump invited to emergency Paris meeting after Davos
- France urges EU to deploy never-used “trade bazooka” against U.S. tariffs
- Why it matters: Crypto and safe-haven assets are moving in opposite directions as trade-war rhetoric intensifies
The latest flash-point came over the weekend when President Trump announced 10 % tariffs on eight EU nations that had sent troops to Greenland in an effort to push the territory’s sale to the United States. The move sent diplomatic tensions soaring just as world leaders gathered for the World Economic Forum in Davos, Switzerland.
Legacy outlets reported that France is pressing the EU to retaliate with its so-called “trade bazooka,” a drastic measure that would curb U.S. access to European markets and has never been activated before.
While markets processed the headlines, Trump said he received a text from French President Macron inviting him to a Thursday meeting in Paris after the Davos sessions. The proposed gathering would include representatives from Ukraine, Denmark, Russia and Syria.
On TruthSocial, Trump also claimed a “very good telephone call” with NATO Secretary General Mark Rutte about Greenland. The President agreed to meet “various parties” in Davos but reiterated that acquiring the island is “imperative for National and World Security.”
Crypto markets reacted swiftly. Bitcoin, which had already been rejected at $95,500 when Asian futures opened Monday, slid through multiple support levels. In barely half a day the asset dropped from almost $93,500 to under $91,000, printing its lowest price of the week.
The decline extended a volatile stretch that saw leveraged positions liquidated across exchanges.
Gold, by contrast, caught a strong bid. The precious metal jumped more than $120 within the same window, punching to a fresh record near $4,730/oz as investors sought cover from geopolitical risk and potential trade disruptions.
| Asset | 24h Change | Key Level |
|---|---|---|
| BTC | -2.6 % | $91,000 low |
| Gold | +2.6 % | $4,730 ATH |
The divergent moves underscore how macro headlines are driving capital rotation: funds are leaving risk assets like crypto and flowing into traditional safe havens.
With the Paris meeting set for Thursday and EU officials debating retaliation tools, traders expect headline volatility to persist. Any sign that the EU will deploy its trade arsenal-or that Trump will widen tariffs-could extend the bitcoin slide and fuel further gold strength.
Key Takeaways
- Bitcoin’s latest drop marks its third weekly low in a row
- Gold has gained more than $120 since Monday’s open
- Trump-Macron talks and potential EU counter-measures headline the week
- Market focus now shifts to Thursday’s post-Davos summit in Paris
