Trump Abolishes Greenland Tariffs as Bitcoin Experiences Market Turbulence
Recent comments by Donald Trump about Greenland tariffs have injected volatility into the Bitcoin market.
In recent hours, the market exhibited extreme volatility following statements from U.S. President Donald Trump regarding the cancellation of tariffs on several European nations concerning Greenland.
In a post on Truth Social, Trump remarked:
Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region. This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.
This announcement positively impacted the markets, which had previously seen a sharp decline. Bitcoin’s price witnessed fluctuations, rising to approximately $90,000 before settling back to around $87,000.
This led to a significant spike in liquidations, with total positions liquidated now at $1 billion, reflecting a 40% increase over the past 24 hours.
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