Bitcoin and major tokens nursed losses in Asian afternoon hours Tuesday after Monday’s macro-driven wobble, but derivatives traders are still positioning defensively into midyear.
Bitcoin dropped below $90,000 in early European hours, little changed on the day after Monday’s dip tied to fresh tariff headlines and a broader risk-off move that pushed investors toward havens.
Ether held near $3,200, while solana, xrp and cardano were mixed on the session but still nursed steep weekly losses, reflecting how altcoins have taken the bigger hit since last week’s peak.
Macro risks remain a key overhang. Renewed tariff threats between the U.S. and Europe, tied to President Donald Trump’s comments on Greenland, have pushed investors back toward traditional safe havens. Gold and silver rallied, while cryptocurrencies underperformed even as some equity markets held steady.
Farzam Ehsani, CEO of exchange VALR, said digital assets are showing crypto-specific fragility rather than broad risk-off behavior.
“Capital is rotating into established safe havens, while crypto continues to trade as a high-beta risk asset,” he said, adding that bitcoin may struggle to hold elevated levels without clearer signs of rate cuts or renewed institutional inflows.
U.S. Treasury yields also climbed as global bond markets sold off on fiscal and geopolitical concerns, reinforcing pressure on risk assets.
For now, traders appear content to stay defensive, waiting for a clearer catalyst to break the market out of its low-volatility range.