Bitcoin drops below $90,000 on Trump tariff threats, pressuring crypto equities

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Yaroslav Dmytrenko

20.01.2026

Bitcoin drops below $90,000 on Trump tariff threats, pressuring crypto equities — Bitcoin sell-off triggers decline in crypto-focused public companies

Shares of publicly traded crypto-focused companies are falling alongside Bitcoin amid a renewed escalation of Donald Trump’s trade war.

The broader cryptocurrency market declined by 4% over the past 24 hours, while Bitcoin slipped below the key $90,000 support level in recent hours, posting a daily drop of just under 4%. Among the top ten cryptocurrencies by market capitalization, XRP fell by 5%, while ETH lost nearly 7%.

BTC 30-minute chart. Source: TradingView

The crypto market downturn was triggered by new statements from Donald Trump, who promised to impose additional tariffs on European countries opposing his attempt to assert control over Greenland. European leaders, in turn, pledged retaliatory measures against the United States.

“The immediate market reaction to the proposed Greenland tariffs was muted, but it adds another layer to the prolonged geopolitical uncertainty that tariffs have created over the past year,” Bitfinex analysts told Decrypt.

According to Coinglass data, during the four hours when Bitcoin dropped below $90,000, liquidations totaled $294 million, mostly from long positions. Rising risk aversion fueled further crypto sell-offs and reduced interest in major altcoins.

“Bitcoin’s current weakness reflects a broader sell-off in risk assets and market uncertainty rather than crypto-specific fundamentals. BTC may stabilize if safe-haven pressure eases and key support levels hold, but volatility is likely to persist near these levels,” said analyst Viktoras Karapetjanc.

Post-holiday cooling in equity markets

Alongside the crypto market, equities also came under pressure, although U.S. stock markets were closed on Monday in observance of Martin Luther King Jr. Day. Despite the holiday, shares of publicly traded crypto-focused companies such as Strategy and SharpLink Gaming fell sharply in recent hours.

At the time of writing, Strategy shares were down 7.5% to $160.56, SharpLink Gaming plunged more than 9% to below $10, and MARA Holdings fell 6% to $10.64.

“This looks more like a compression than a breakdown, but we need the psychological $90,000 level to hold as strong support, otherwise we risk a retest of the mid-$80,000 range,” Wintermute analysts wrote, commenting on Bitcoin’s decline.

Other observers also remain calm, noting that every Bitcoin pullback is typically accompanied by declines in DAT stocks and mining companies.

As we wrote, Bitcoin price prediction: BTC holds below 100 EMA ahead of $2.4B options expiry

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