Trump's New Tariff Threats Trigger Safe-Haven Sentiment, Main Reasons for Bitcoin's Sharp Pullback Today

On January 19, Bitcoin quickly fell from above $95,000 in the early trading session, with the lowest point reaching around $91,900, a 24-hour decline of approximately 3% to 3.5%.

The main driving factors of the current market consensus are as follows (ranked by importance):

• Trump's new tariff threats trigger safe-haven sentiment
Trump announced that starting February 1, new tariffs will be imposed on some European countries (linked to Greenland-related issues), causing a collective pressure on global risk assets. Major US stock indices fell about 1.8%, and Bitcoin, as a high-beta risk asset, also retraced, becoming the primary macro trigger today.

• Weekend low liquidity + massive leverage liquidations
Within a few hours, over $680 million worth of Bitcoin long positions were liquidated across the entire network. The weekend market was thin, and liquidations triggered chain reactions of selling, rapidly amplifying what could have been a minor correction.

• Profit-taking from old addresses intensifies selling pressure
Some dormant addresses from 2011-2014 became active again and sold in batches. Although the total volume is limited, under the current fragile sentiment, it exerted noticeable secondary pressure on prices.

Overall, the core logic of this round of decline remains "macro safe-haven + weekend liquidity fragility + leverage liquidation," combined with a small amount of old coins being sold, amplifying volatility.

Current market sentiment remains neutral, with some disagreement around the 92k-90k range: some funds are beginning to attempt low-position accumulation, while others believe that if tariffs are implemented and the Federal Reserve maintains a hawkish stance, further short-term declines are still possible.

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