Bitcoin dodges tariff turmoil 😮‍💨

Bitcoin made its way back above $90,000 on Wednesday as President Donald Trump walked back his tariff threats.

Author

Stacy Jones
January 21, 2026

📝 What you need to know

Bitcoin ripped back above $90,000, and the market paid the price.

More than $1 billion in crypto positions were liquidated as leveraged traders got caught on the wrong side of a sharp reversal. The catalyst doesn’t appear to have been crypto-native—it was politics.

Speaking at Davos, Donald Trump said he would drop plans to impose tariffs tied to Greenland negotiations, easing broader market jitters and sending risk assets higher. Bitcoin briefly dipped toward $87,000 before roaring back, dragging liquidations with it. The rally cooled slightly after the spike, but the message was clear: Macro headlines are still moving crypto fast—and brutally.

Bitcoin Spike to $90K Boosts Crypto Liquidations Above $1 Billion as Trump Dumps Tariffs

President Trump said Wednesday that he won't impose tariffs related to his quest for Greenland, boosting Bitcoin and stocks in the process.

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 💬 Quote of the Day

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“Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic region,”

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📚 Watch and Learn

📹️ WATCH: Trump’s speech at Davos gives small boost to crypto!

Crypto majors are very red following a red Tuesday across markets; BTC -3% at $88,200; ETH -6% at $2,905, SOL -2% at $127; XRP -2% to $1.88. MYX (+11%) and ZRO (+10%) led top movers. Bitcoin and Solana both fell below key technical support levels as selling pressure accelerated. Over $1B in longs were liquidated during Bitcoin’s slide below $88k.

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