Bitcoin slips 3.6% below $92,000, $600 million of bullish bets liquidated as Trump's new tariffs cause uncertainty

Key Highlights

• Rachael Lucas, an analyst at BTC Markets told the agency that $90,000 level is being viewed as the next stop if current support fails.
• According to data on CoinMarketCap, the crypto market capitalisation, at time of writing, was at $3.12 trillion (down 2.65%), with 24-hour trading volume at $93.88 billion.
• A total of $85 billion was erased, with as much as $514 million in long liquidations were reported in only one hour, it added.
• Bitcoin dominance was at 59.1% (up 0.06%), while Ethereum held 12.4% (up 0.32%) of the pie, and the other tokens comprised 28.5% (down 0.38%) of the total cryptocurrency market share.
• Donald Trump on 17 January announced a 10% tariff on eight European countries supporting Denmark against his bid for Greenland, with effect on 1 February, warned that this could rise to 25% in June, unless “a deal is reached for the complete and total purchase of Greenland”.