Overview
- Bitcoin fell from about $95,500 to an intraday low near $91,935–$92,300 before stabilizing in the low $92,000s, with market trackers showing a roughly 3% drop over a few hours.
- Forced liquidations totaled in the high hundreds of millions of dollars, with reports clustering around $680 million to $900 million and the vast majority coming from long positions; major altcoins also posted multi‑percent declines.
- Gold and silver surged to fresh records—gold near $4,670/oz and silver above $93/oz—while U.S. and European equity futures slipped as investors shifted toward safe havens.
- President Trump outlined 10% tariffs on goods from eight European countries starting Feb. 1, rising to 25% by June absent a Greenland deal, drawing sharp rebukes as EU leaders weighed retaliatory measures and activation of an anti‑coercion tool, with packages near €93 billion reported.
- Analysts attributed the crypto drop to a cross‑asset risk‑off move amplified by high leverage and thin liquidity during the MLK holiday and Davos, as legal overhangs—including a pending Supreme Court ruling on tariff powers—kept risk assets on edge.