- Bitcoin traded near $92,000 on Jan. 19 after a weekend decline tied to concerns about renewed U.S.-EU tariffs.
- Price swings included a drop to $91,935.30 on Sunday and intraday moves between about $92,300 and $93,300 on Monday, per Coinbase data from TradingView.
- The sell-off followed a Truth Social post from President Trump announcing tariff plans, and the EU met to consider a response, according to a Bloomberg report.
- Analysts cited forced liquidations, large holders moving coins to exchanges, ETF outflows, and thin post-holiday liquidity as drivers of price volatility.
- Market professionals from Bitmex.com/”>BitMEX, CoinDesk Data, PrimeXBT.com/”>PrimeXBT, and Wincent provided data and commentary.
Bitcoin traded close to $92,000 on Monday, Jan. 19 after falling over the weekend amid concerns about possible new tariffs between the United States and the European Union. Market price data came from Coinbase data from TradingView.
The digital asset fell to $91,935.30 around 8:30 p.m. EST on Sunday after trading above $95,000 earlier that day. It recovered above $93,200 by about 4 a.m. EST on Monday, then moved to roughly $92,700 by 10:30 a.m., reached an intraday high near $93,300 close to noon, and declined toward $92,300 by 7:30 p.m.
President Donald Trump posted on Truth Social that starting Feb. 1 eight countries would face a 10% tariff on U.S. imports, rising to 25% on June 1. The 27-member European Union met on Sunday to discuss possible retaliatory measures, according to a Bloomberg report.
BitMEX CEO Stefan Lutz said the market reaction was linked to renewed trade tensions. “Sometimes the reason behind these movements is opaque and you have to read between the chart lines to understand market movements. At other times, like today, it’s much simpler: trade wars are back on the menu.” He added, “In fairness, the truth is a little more nuanced than this – global tensions have been rising all year and the Greenland debacle is merely the latest and strangest stage for growing geopolitical disquiet.”
CoinDesk Data research analyst Jacob Joseph said, “Bitcoin’s recent decline below $93,000 has coincided with heightened macroeconomic uncertainty, particularly surrounding renewed trade tensions.” He added that proposed tariffs and possible EU retaliation had produced a “risk-off” mood affecting digital assets.
PrimeXBT senior market analyst Jonatan Randin reported that the initial 3% drop triggered $865 million in liquidations within 24 hours, with 90% from overleveraged longs. “That selling pressure was compounded by large holders moving coins to exchanges at the highest rate in 10 months, while ETF outflows of nearly $400 million added further weight after $1.7 billion came in earlier in the week.”
Wincent senior director Paul Howard noted thin post-holiday liquidity: “With the US on Martin Luther King holiday, post-weekend liquidity is thin, which has contributed to a 2.2% drawdown that is likely outsized relative to the catalyst.”
Note on terms: “Liquidations” occur when leveraged positions are forcibly closed to meet margin requirements. “Overleveraged longs” are traders who borrowed funds to bet prices would rise. “ETF outflows” mean investors withdrew money from exchange-traded funds tracking crypto.
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