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Bitcoin Price Today: Falls to $90K Amid Trump’s Greenland Dispute
Bitcoin fell on Tuesday, extending its recent decline, as concerns over U.S. demands regarding Greenland pushed traders away from speculative assets.
The world’s largest cryptocurrency has largely erased its mid-January rebound, returning to the lows seen earlier this year, as traders favored physical safe-haven assets such as gold.
Bitcoin fell 1.8% to $90,916.8 by 06:39 GMT.
A delay in the review of a closely watched U.S. cryptocurrency bill also pressured prices in recent sessions. Lawmakers postponed discussion of the bill aimed at creating a U.S. regulatory framework after Coinbase Global Inc (NASDAQ: COIN) voiced opposition to several proposals within the legislation.
Trump Says He Will Discuss Greenland in Davos
U.S. President Donald Trump said late Monday that he will discuss Greenland while attending the World Economic Forum in Davos, Switzerland, this week.
Trump did not specify whom he would meet with, although delegates from several major European countries are also expected to attend the conference.
Trump also reiterated his calls for U.S. ownership of Greenland, stating that the island is important for national security.
Threats by the U.S. president to impose tariffs on eight European countries unless they hand over Greenland weighed on global markets this week. On Monday, Trump also did not clarify whether he would use U.S. armed forces to seize Greenland.
European leaders have largely rejected Trump’s demands and are reportedly preparing countermeasures if the president continues to impose tariffs.
Rising geopolitical tensions have generally dampened investor appetite for cryptocurrencies, as speculative assets tend to perform poorly during periods of high uncertainty.
Mass Liquidation of Crypto Long Positions Continues
Long positions in bitcoin and other cryptocurrencies continued to be liquidated en masse this week, with $260.32 million in positions liquidated over the past 24 hours, according to Coinglass.
This followed nearly $900 million in liquidations across cryptocurrency markets earlier this week.
Retail investor sentiment toward bitcoin remained weak, particularly in the United States. The Coinbase Bitcoin premium index showed that the world’s largest cryptocurrency continues to trade at a discount in U.S. markets compared with the global average, according to Coinglass data.
Cryptocurrency Prices Today: Altcoins Under Pressure
Broader cryptocurrency prices were mostly lower on Tuesday. The world’s second-largest cryptocurrency, Ether, fell 2.2% to $3,126.01.
XRP and BNB fell 0.6% and 1.1%, respectively. Cardano rose 0.9%, while Solana slipped 1.3%.
Among memecoins, Dogecoin rose 0.1%, while $TRUMP gained 0.9% after falling below the $5 level earlier this week.
See also: "Traders Are Moving from Monero and Dash to Dusk. The Coin Has Already Gained 40%"
