Tariff-driven risk aversion knocks crypto lower as gold jumps to new highs.

Major cryptocurrencies fell broadly on Monday as renewed concerns over U.S. tariffs triggered a risk-off shift across global markets.

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

The selloff followed weekend comments from U.S. President Donald Trump indicating that the U.S. plans to impose a 10% tariff on goods from eight European countries starting Feb. 1, with rates set to increase to 25% in June unless a broader agreement is reached. The remarks weighed on risk appetite and drove investors toward defensive positions.

Crypto markets moved in lockstep with traditional assets. U.S. equity-index futures fell sharply in early trading, with Nasdaq 100 futures down more than 1%, while European futures also declined as trade tensions resurfaced. Asian markets were mixed, though most indices posted modest losses.

Safe-haven assets rallied in response. 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 shelter ahead of the U.S. trading session.

Liquidations rose alongside the market pullback. About $600 million in bullish crypto positions were liquidated over the past 24 hours, according to CoinGlass, with long positions accounting for the majority. Bitcoin open interest declined as traders reduced leverage.

The move comes after a strong start to the year for digital assets. Bitcoin surged to just below $98,000 last week on the back of strong inflows into U.S.-listed spot ETFs, with altcoins rallying alongside it. Monday’s pullback suggests traders are reassessing risk as macroeconomic uncertainty returns.

Altcoins once again bore the brunt of the selling, a common pattern during risk-off phases as investors rotate away from higher-beta tokens toward more liquid assets. Market participants are now watching whether bitcoin can hold support near the $90,000 level, which could determine whether the broader decline deepens or stabilizes.

For now, cryptocurrencies remain closely tied to global risk sentiment, leaving prices sensitive to further developments in trade policy, geopolitics and monetary policy.