Cryptocurrency markets slid on Monday, with major tokens under pressure as renewed fears over U.S. tariffs drove a broader risk-off move across global assets.

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

The decline followed comments from U.S. President Donald Trump over the weekend signaling plans to impose a 10% tariff on goods from eight European countries starting Feb. 1, with duties set to rise to 25% in June unless a broader agreement is reached. The remarks dented risk appetite and prompted a shift toward defensive positioning.

Digital assets moved in tandem with traditional markets. U.S. equity-index futures fell sharply in early trading, with Nasdaq 100 futures down more than 1%, while European futures also slid as trade tensions resurfaced. Asian markets were mixed, though most indices registered 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 protection ahead of the U.S. session.

Liquidations accelerated alongside the selloff. Roughly $600 million in bullish crypto positions were wiped out 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 move follows a strong start to the year for cryptocurrencies. Bitcoin climbed to just under $98,000 last week, supported by heavy inflows into U.S.-listed spot ETFs, while altcoins followed higher. Monday’s retreat suggests investors are reassessing exposure as macro risks reassert themselves.

Altcoins absorbed most of the selling pressure, a typical pattern during risk-off phases as traders rotate out of higher-beta tokens and into more liquid assets. Market participants are now focused on whether bitcoin can hold support near the $90,000 level, which could determine whether the broader pullback stabilizes or deepens.

For now, crypto markets remain closely aligned with global risk sentiment, leaving prices sensitive to further headlines on trade policy, geopolitics and monetary conditions