Key Moments
- Bitcoin declined 1.8% to $90,916.8 by 01:39 ET (06:39 GMT), erasing most of its mid-January rebound.
- Markets reacted to U.S. President Donald Trump’s renewed push for U.S. control of Greenland and tariff threats on eight European nations.
- Roughly $260.32 million in crypto long positions were liquidated in the last 24 hours, following nearly $900 million in liquidations earlier in the week.
Bitcoin Retreats as Safe-Haven Demand Picks Up
Bitcoin extended its recent losing streak on Tuesday, with investors reducing exposure to speculative assets amid mounting geopolitical uncertainty linked to U.S. demands over Greenland.
The world’s largest cryptocurrency gave back most of its mid-January rebound, sliding back toward levels last seen at the start of the year. As risk appetite weakened, traders showed a stronger preference for physical safe-haven assets such as gold.
Bitcoin was down 1.8% at $90,916.8 by 01:39 ET (06:39 GMT).
bitcoin is back to its support @ $90k
where do we go from here? pic.twitter.com/nHNPgIwRIM
— hødl (@hodl_strong) January 20, 2026
Regulatory Setback Adds Pressure to Crypto Markets
Recent price action in Bitcoin was also hurt by a delay in a key U.S. crypto regulatory bill. Lawmakers postponed debate on the legislation – intended to create a U.S. regulatory framework for digital assets – after Coinbase Global Inc (NASDAQ: COIN) raised objections to several provisions in the proposal.
The setback added another headwind for crypto markets already dealing with geopolitical stress and waning risk sentiment.
Trump’s Greenland Push Roils Global Sentiment
U.S. President Donald Trump said on Monday evening that he will bring up Greenland during his participation at the World Economic Forum in Davos, Switzerland, this week.
He did not indicate which specific counterparts he planned to meet, although representatives from several major European countries are expected to be present at the gathering.
Trump reiterated his stance that the United States should own Greenland, emphasizing the island’s significance for national security. The U.S. president’s threats to impose tariffs on eight European nations unless they ceded Greenland rattled global markets this week. On Monday, Trump also did not clarify whether he would consider deploying the U.S. military to take control of the island.
European leaders largely dismissed the U.S. demands and were reported to be preparing countermeasures if tariffs were implemented. The escalation in tensions weighed broadly on risk assets, including cryptocurrencies, which typically struggle during periods of heightened uncertainty.
Wave of Long Liquidations Hits Bitcoin and Altcoins
Liquidations of leveraged long positions in Bitcoin and other major cryptocurrencies continued aggressively this week. Data from Coinglass showed that $260.32 million worth of positions were liquidated in the last 24 hours alone.
This followed nearly $900 million in liquidations earlier in the week, underscoring the scale of the deleveraging across the crypto complex.
Weak U.S. Retail Sentiment Evident in Coinbase Discount
Retail participation in Bitcoin remained subdued, particularly in U.S. markets. The Coinbase Bitcoin Premium Index indicated that Bitcoin continued to trade at a discount on U.S. venues relative to the global average, according to Coinglass data. The persistent discount pointed to softer domestic demand versus the broader market.
Altcoins Under Pressure as Broader Crypto Complex Pulls Back
Altcoins tracked Bitcoin lower on Tuesday, with most major tokens moving into negative territory.
| Asset | Move | Price / Change Detail |
|---|---|---|
| Bitcoin (BTC) | -1.8% | $90,916.8 by 01:39 ET (06:39 GMT) |
| Ether (ETH) | -2.2% | $3,126.01 |
| XRP | -0.6% | Declined |
| BNB | -1.1% | Declined |
| Cardano (ADA) | +0.9% | Rose |
| Solana (SOL) | -1.3% | Fell |
| Dogecoin (DOGE) | +0.1% | Inched higher |
| $TRUMP | +0.9% | Recovered modestly after dropping below the $5 level this week |
Ether, the second-largest cryptocurrency by market value, dropped 2.2% to $3,126.01. XRP and BNB recorded losses of 0.6% and 1.1%, respectively. Cardano bucked the broader downtrend with a 0.9% gain, while Solana declined 1.3%.
Within the memecoin segment, Dogecoin edged up 0.1%. The $TRUMP token added 0.9% after falling below the $5 mark earlier in the week.
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