Bitcoin around $92,000... Fluctuates amid US-Europe trade war

Source: DecenterKorea Original Title: Bitcoin in the $92,000 range… Fluctuations due to US-Europe trade war [Decenter Market Overview] Original Link:

As of 8 a.m. on the 20th, based on Bithumb, Bitcoin(BTC) is trading at 137,217,000 KRW, down 0.10% from the previous day.

Bitcoin(BTC) is trading in the $92,000 range. The trade conflict between the US and Europe, triggered by President Donald Trump’s Greenland annexation plan and tariff pressures, has emerged as a short-term market variable.

According to CoinMarketCap, a global cryptocurrency market data site, at 8 a.m. on the 20th, BTC was at $92,836.69, down 2.71% from the previous day. Ethereum(ETH) is trading at $3,203.69, down 4.27%. BNB(BNB) is down 2.67% at $924.46, XRP(XRP) is down 3.28% at $1.988, and Solana(SOL) is down 6.34% at $133.49.

The domestic market shows a similar picture. As of the same time, based on Bithumb, BTC is at 13,721,700 KRW, down 0.10% from the previous day. ETH is down 0.67% at 4,723,000 KRW, XRP is up 0.27% at 2,937 KRW, and SOL is down 0.15% at 197,500 KRW.

As tensions between the US and Europe escalate, risk asset caution is spreading across the market. When the US president mentioned the possibility of additional tariffs on European countries over Greenland, the European Union(EU) is preparing immediate retaliatory measures. The EU is reportedly reviewing retaliatory tariffs or trade threat response measures(ACI). There are also forecasts that mutual trade sanctions could materialize as early as February.

Kraken Vice President said, “Since the sharp decline on October 10 last year, cryptocurrencies have been in an asymmetric downside risk phase, reacting more sensitively to bad news than good news.” Although Bitcoin was in a price range that could have attempted further gains early this week, news related to geopolitical risks dampened the upward momentum.

However, the limited extent of the decline is noteworthy. There is some expectation that the US president might actually ease the tariff threats. “As the World Economic Forum(WEF) annual meeting begins in Davos, Switzerland, there could be significant volatility in the cryptocurrency market whenever statements are made that suggest either easing or escalation of tariffs between the EU and the US in the coming days,” analysts say.

The fear and greed index from a cryptocurrency data analysis firm is down 5 points from the previous day to 44 points, indicating a ‘fear’ state. The index approaches 0 when investor sentiment is subdued and approaches 100 when the market is overheated.