New York, January 20, 2026, 10:22 AM EST — Regular session
- Bitcoin fell as investors cut exposure to risk assets amid fresh trade-war fears.
- Crypto-linked stocks and bitcoin-tracking ETFs also weakened in early U.S. trading.
- Traders are watching Thursday’s U.S. inflation gauge and policy headlines out of Europe.
Bitcoin fell about 3.1% to $90,028 on Tuesday morning in New York, after dipping to a session low of $89,880. Ether slid 6.5% to $3,006.
The drop tracked a broader risk-off move after U.S. President Donald Trump threatened tariffs on European countries in a dispute tied to Greenland. “Hopes that the tariff situation has calmed down for this year have been dashed for now,” Berenberg chief economist Holger Schmieding said. (Reuters)
With U.S. markets shut on Monday for Martin Luther King Jr. Day, investors are now reacting to weekend headlines. European stocks fell, the dollar slid for a second day and gold pushed above $4,700 an ounce; EU leaders are due to discuss options at an emergency summit in Brussels on Thursday, Reuters reported. Amelie Derambure, a senior multi-asset portfolio manager at Amundi, called the move “precautionary profit-taking” and “risk reduction,” adding there was “no panic.” (Reuters)
On Wall Street, the main indexes slid toward a three-week low in early trade as volatility picked up. “The headlines are going to drive angst and concern about what the future holds,” said David Lundgren, chief market strategist at Little Harbor Advisors. (Reuters)
Crypto-linked stocks moved with the token prices. Coinbase Global fell 5.4% and bitcoin holder Strategy Inc slid 8.2%, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) dropped 5.8%.
Strategy, formerly MicroStrategy, disclosed it bought 22,305 bitcoins for about $2.125 billion between Jan. 12 and Jan. 19 at an average price of $95,284 per coin, lifting holdings to 709,715 bitcoins. The filing said the purchases were funded by share sales under its at-the-market program. (SEC)
Flows into spot bitcoin exchange-traded funds — listed vehicles that hold bitcoin directly — have swung sharply this month. Data compiled by Farside Investors showed net outflows of $394.7 million on Jan. 16, after net inflows of $753.8 million on Jan. 13 and $840.6 million on Jan. 14. (Farside)
Leverage has made the selling sharper. Crypto markets saw $869.5 million worth of positions liquidated over the past 24 hours, including about $229.5 million of bitcoin long bets, according to CoinGlass data cited by Investing.com — liquidations are forced closures when traders no longer have enough collateral to hold leveraged positions. (Investing)
But the tariff fight is still a headline market, and that is a problem for crypto when traders treat bitcoin as a high-beta risk proxy. Another spike in bond yields or a step-up in retaliation talk could pull more money out of leveraged longs and keep liquidity thin when U.S. markets are closed.
For now, traders are watching whether bitcoin can hold the $90,000 level and whether ETF flow data turns positive as U.S. trading volumes return after the holiday break.
The next calendar test comes Thursday, Jan. 22, when the U.S. personal consumption expenditures price index is due — the inflation gauge the Federal Reserve follows closely. (Bureau of Economic Analysis)
