Tariff Uncertainty Pulls Bitcoin Below 88K on the Time Zone Map

Cryptocurrency markets exhibit volatile movements on the time zone map, while the sell-off triggered by the European Union’s US tariff threats has pushed Bitcoin down to approximately $88,130. The market shows different dynamics across time zones, with some assets resisting while others experience deep declines.

Bitcoin and Ethereum recorded 24-hour losses of 2.16% and 3.16% respectively on the time zone map. Since last evening, Bitcoin has lost about 2.5%, falling below the critical $94,500 support level, increasing the risk of reverting to the mid-November trading range. Meanwhile, Ether has faced sharper downward pressure along with the altcoin market.

24-Hour Time Zone Map: Collapse of Derivative Positions

According to inter-time zone liquidity data, the pullback in the crypto market has triggered the forced liquidation of approximately $815 million in leveraged positions due to margin insufficiency. Of these liquidations, $231 million are linked to Bitcoin, while the rest occurred in the altcoin market.

Total open interest (OI) in crypto futures has decreased by over 2% across the time zone map, falling to $138.14 billion. Bitcoin’s open interest increased by 0.65% within 24 hours, while Ethereum’s OI remained flat. Open positions in major tokens such as Solana, XRP, Cardano, Dogecoin, Sui, and Litecoin declined between 8% and 13%. This indicates large-scale capital outflows and risk-averse behaviors across different time zones.

Variations in the Crypto Market: Altcoins’ Volatile Course

Altcoins have shown mixed performance on the time zone map. The CoinDesk 80 Index (CD80) fell by 4.64% in the last 24 hours, outperforming the CoinDesk 20 (CD20) index, which is down 2.5%, primarily driven by Bitcoin.

Significant divergence is observed in Monero. XMR, following a different trend from Bitcoin, increased by over 13%, demonstrating that privacy coins continue their upward trend this year. DeFi tokens like ETHFI, ENA, and JUP experienced double-digit declines overnight, while layer-1 protocol tokens APT and SUI lost about 10%. Solana (SOL) dropped to $122.94 (down 3.41%), and Cardano (ADA) traded at $0.35 (down 4.39%), unable to withstand the overall market pressure.

Mid-market cap tokens performed lower compared to crypto leaders, with liquidity shortages across time zones becoming even more apparent after the liquidation chain in October.

Reflection of Time Dynamics in Open Position Data

Volatility indicators on the time zone map send important signals. The 30-day implied volatility in Bitcoin and Ethereum has not shown a significant increase, indicating traders do not expect major fluctuations in the near term.

The volatility gap between call and put options listed on Deribit remains negative across time zones, signaling ongoing bearish concerns. Ether options follow the same pattern, while block flows remain balanced with traders tracking put and call spreads.

Token-Based Time Zone Analysis: Lighter and Derivative Exchanges

The derivative exchange Lighter’s LIT token continued its decline on Monday, losing 10% since 23:00 UTC on Sunday. This decline coincides with HyperLiquid’s announcement of expanding its derivative exchange leadership and is seen as a result of waning interest in the Lighter platform following the December airdrop.

The Lighter example illustrates how certain projects’ sensitivity varies over time on the time zone map. The choice of derivative exchange and liquidity concentration lead to intense selling pressure on specific tokens during certain time windows.

Inter-Time Zone Sensitivity Indicators: Gold vs Crypto

Tariff concerns have caused stocks in Europe and US futures to decline, while safe-haven assets have responded differently across time zones. Gold rose above $5,500 per ounce, creating a busy trading atmosphere with a nominal value of about $1.6 trillion in a single day.

Indicators like JM Bullion’s Gold Fear and Greed Index show much higher optimism levels compared to crypto indicators on the time zone map. While crypto sentiment remains in fear, signals of excessive optimism are emerging in gold.

Despite the “hard asset” narrative, Bitcoin remains in the background on the time zone map. Investors seeking value preservation have preferred physical gold and silver over digital tokens at certain times, with Bitcoin acting more like a high-beta risk asset.

NFT-native brands like Pudgy Penguins continue to aim at increasing user engagement across different time zones through games and token distributions. The PENGU token has been distributed via airdrops across a broad network, facilitating new participants’ entry into Web3 on the time zone map.

Crypto markets continue to face liquidation and tariff pressures amid this volatile trend on the time zone map. Central bank monetary policies, geopolitical tensions, and institutional flow decisions will shape market dynamics across time zones.