Bitcoin slumped to a three-week low on Sunday as U.S. equity futures pointed sharply lower and investors digested the latest escalation in trade tensions under President Donald Trump. The largest crypto by market value fell more than 6% over the last 24 hours to $77,700, CoinGecko data shows. Ethereum is down nearly 12% to $1,575, while broader crypto markets showed similar declines, mirroring losses in risk assets globally. Meanwhile, U.S. stock futures extended their declines in early Asia hours. S&P 500 E-mini futures fell 4.3%, Dow futures lost 4%, and Nasdaq 100 futures dropped 4.6%, setting the stage for a potentially turbulent week on Wall Street. The sell-off follows Trump’s sweeping new tariffs on major U.S. trading partners, which came into effect on Saturday, reigniting fears of a prolonged trade war and global economic slowdown. Those measures include a universal 10% tariff on nearly all imported goods, with significantly higher reciprocal tariffs targeting specific countries.  Imports from China are subject to a 34% tariff, while those from the European Union face a 20% tariff. The country-specific tariffs are designed to mirror the perceived trade barriers that these nations impose on U.S. exports. As a result, the crypto market, which had remained relatively calm over the weekend, began to slide in tandem with the CME futures open. “There was chatter that Wall Street banks called their traders back to their desks before 5 a.m. HKT this morning ahead of CME futures opening,” Peter Chung, head of research at Singapore-based algorithmic crypto trading firm Presto, told Decrypt. “Tension was in the air for something big to go down.” While it remains unclear how the rest of the week will play out, Chung said there are scenarios that could reverse the current risk-off sentiment. “There’s been chatter that not everyone in the White House is on board with the pace of the tariff implementations,” he said. “If Trump backs down or the Fed responds with dovish comments or hints at emergency intervention, things could quickly turn around.” Art of the deal Pratik Kala, head of research at Apollo Crypto, told Decrypt the market may be entering a phase of heightened uncertainty with “history book implications.” “This can be a prolonged trade war,” Kala said. “That being said, in my opinion, Trump is following The Art of the Deal playbook.” Referencing the president’s best-known business book, Kala pointed to two of its central principles—“make them need you” and “protect the downside”—to suggest that Trump may be angling for leverage ahead of potential negotiations. “Protecting the downside is easy,” Kala said. “One tweet away.” While cautioning that volatility is likely to remain elevated, Kala said the pullback could offer re-entry opportunities for traders willing to take on risk. “This is a good spot to start dabbling in again in small size and with caution,” he said. “We should see some deals and negotiations take place soon.” Kala added that the biggest unknown remains the European Union, which has yet to formally respond. “If they come back with something aggressive, we’re in for another leg down.” Still, he noted, many investors are “eagerly waiting for the dust to settle to buy back, as these opportunities come rarely.”