Trade tensions are heating up. Trump's renewed pressure on Greenland has triggered a wave of responses—the EU is now considering retaliation with roughly $108 billion in tariffs on US goods. European officials frame this as a strategic warning, signaling they won't back down if trade friction escalates further.

Amid the broader market uncertainty, Bitcoin showed minimal movement despite the geopolitical backdrop. However, the leveraged positions couldn't handle the volatility: nearly $900 million worth of long positions got liquidated, revealing how sensitive derivative traders are to macro headwinds. When policy uncertainty collides with overleveraged markets, the liquidation cascade is often swift and brutal.