Altcoins News

Story: Bitcoin Drops Below $90K Amid Escalating EU-US Tensions Over Greenland

By Julie Binoche

1 / 15

This week has been tumultuous for both global politics and the cryptocurrency market, with Bitcoin feeling the brunt of it.

2 / 15

The European Union quickly scheduled an emergency meeting, with some reports suggesting that the bloc was prepared to unleash a "trade bazooka" never before used.

3 / 15

On Wednesday morning, the cryptocurrency dipped below $88,000. A brief rally ensued when Trump stated at his Davos speech he would not use force in Greenland's takeover.

4 / 15

Currently trading around $89,200, Bitcoin has not been able to reclaim its $90K support level. This represents a 6.

5 / 15

In market data highlights: The total crypto market capitalization stands at approximately $3.1 trillion with a 24-hour volume near $110 billion.

6 / 15

Here's what changed: Gold has surged amidst Bitcoin's struggles this week, reaching unprecedented highs nearing $5,000 per ounce for the first time ever—a stark contrast to BTC’s…

7 / 15

Meanwhile, XRP ETFs faced their largest outflows ever recorded as Ripple’s price stumbled once more on Tuesday; around $50 million exited these funds in a single day.

8 / 15

The week also marked one year since Donald Trump’s second inauguration as "crypto president.

9 / 15

Ethereum co-founder Vitalik Buterin announced plans to transition fully away from centralized social media by 2026.

10 / 15

Michael Saylor's Strategy company continues to buy Bitcoin aggressively; they recently acquired over 22,305 BTC for roughly $2.

11 / 15

In another highlight from this week: Nate Geraci rebuffed Peter Schiff's criticism that Bitcoin is Wall Street's worst performer by demonstrating that since ETF launches two…

12 / 15

As global political dynamics evolve further—particularly concerning US-EU relations over Greenland—the impact on cryptocurrencies remains palpable but uncertain until concrete…

13 / 15

The question now is whether Bitcoin will stabilize or face further turbulence amid ongoing geopolitical narratives shaping its trajectory this year.

14 / 15

On the trading front, the volatility has caught many investors off guard. The filing—late Friday—of new tariff threats by President Trump only exacerbated the uncertainty in the…

15 / 15

Adding to the complexity, major exchanges like Binance and Coinbase reported a surge in activity on January 22nd, as users rushed to either mitigate losses or capitalize on…

The Currency Analytics

Want the full story?