Bitcoin down, gold futures up as Europe threatens 'trade bazooka'

Bitcoin has dropped 3.6% as gold futures have hit record highs, primarily fueled by the EU's threat to retaliate against Trump’s tariffs regarding Greenland. This announcement suggests a potential shift towards a risk-off environment among investors, prompting a reassessment of asset portfolios. The surge in gold futures, perceived as a safe haven, aligns with these recent developments. Bitcoin, being highly susceptible to market volatility, particularly reacts to changes in risk sentiment, and the aggressive trade policies from the EU could exacerbate this trend. As gold raises its profile, Bitcoin may appear less attractive, leading to increased selling pressure in the short term as the market adapts to these broader economic uncertainties.