Bitcoin Slips On Trade War Fears, Sparks $865M in Liquidations
Bitcoin fell 3.1% during early Monday Asian trading, dropping from $95,385 to $92,415 and triggering over $865 million in liquidations, mostly affecting bullish investors. The decline coincided with the U.S. Martin Luther King Jr. holiday and the World Economic Forum in Davos, while the total crypto market cap fell by 2.8% to $3.26 trillion, losing over $111 billion since Thursday. The market is reacting to renewed U.S.-EU trade tensions after President Trump threatened tariffs on Greenland and EU allies opposed to the U.S. annexing Greenland. U.S. officials asserted strategic interests in the Arctic, further intensifying uncertainty. Prediction platform Myriad Markets showed rising expectations for a U.S. offer to acquire Greenland. Analysts attribute Bitcoin’s pullback to broader global risk sentiment shifts and profit-taking, with expectations of Bitcoin trading within a tighter range and support around the mid-$80,000s for the rest of January.
