There is a main reason behind the pinning— the European Union has officially suspended the approval of the trade agreement with the United States.

What is the cause? The threat of U.S. tariffs on Greenland has triggered tensions, leading the EU Parliament to decide to put the review of the US-EU trade agreement on hold. This deadlock could lead to several consequences: escalation of trade friction, renegotiation of the agreement, or the implementation of tariffs on various goods.

What about the market? In the short term, increased volatility will be observed. If both sides do not reach a consensus at the negotiation table, the market may continue to be under pressure. This current highly uncertain situation indeed requires extra caution—risk assets like BTC are easily impacted by shifts in macro expectations. Risk management needs to keep pace.