Crypto assets including Bitcoin, Ethereum, and XRP are tumbling as fears of a Greenland trade confrontation trigger a wave of leveraged liquidations. The New York Stock Exchange briefly halted trading as the Greenland shock rattled markets, and more than $800 million in liquidations were recorded in a single session. Data from CoinGlass shows 90.5% of the liquidations were long positions, underscoring how bullish sentiment had become before the turn.
Bitcoin rose above $97,000 this week, flirting with an all-time high and raising the prospect of breaking $100,000. Crypto analyst Crypto Rover said the Fed’s posture could prove a powerful long-term tailwind for the market, while Arthur Hayes also forecast that rising dollar liquidity would drive prices higher.
As U.S.–EU trade tensions flare again, the crypto market cooled sharply in a single day, with accelerated liquidations and broad-based declines across assets. If the conflict persists, volatility could widen and risk assets may face further corrections. The report notes the largest single liquidation was a $25.83 million Bitcoin position at HyperLiquid, and, with the Greenland crisis deepening, crypto selling across the board has intensified.
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