Bitcoin fell from $95,385 to $92,415 during the early Monday Asian session, triggering liquidations exceeding $865 million. The drop happened while U.S. markets were closed for the Martin Luther King Jr. holiday and global leaders met in Davos, with analysts pointing to a broader shift in risk appetite linked to renewed U.S.-EU trade tensions.
Altcoins declined sharply, dragging total crypto market capitalization down 2.8% to about $3.26 trillion. The market lost roughly $111 billion in value since last Thursday.
President Donald Trump threatened 10% export tariffs on eight countries opposing U.S. control of Greenland, announced over the weekend. Scott Bessent similarly commented on the Arctic, as shown in a linked post that echoed those views.
Users on Myriad Markets assigned a 54.5% probability that Trump would make a formal offer to acquire Greenland before July. That probability climbed from 34.7% on January 17.
Lai Yuen, an analyst at Fisher8 Capital, said markets are reacting to the return of a U.S.-EU trade war. Ryan Lee, chief analyst at Bitget, added that macro uncertainty and profit-taking had pushed investors into caution, and that near-term support for Bitcoin may form around the mid-$80,000 level (Ed. note: liquidation totals reported exceed $865 million).
“The recent pullback in Bitcoin is being driven less by crypto-specific fundamentals and more by a broader shift in global risk sentiment,” “Heightened macro uncertainty, combined with profit-taking after a strong run, has pushed investors into a more cautious posture across equities, commodities, and digital assets alike.”
