Trump escalates threat of tariffs on Europe, crypto market suffers heavy losses overnight, US stock crypto concept stocks plummet

GateUser-6433627c · 2026-01-20T23:48:49+00:00

On January 21, Trump intensified his tariff threats against Europe, causing market concerns of a renewed US-EU trade war, which led to a sharp decline in the crypto market. Bitcoin fell below $88,000, Ethereum reached $2,920, and the total market capitalization evaporated by 4.6%. The US stock market declined across the board, with the S&P 500 experiencing its largest single-day drop, and crypto-related stocks also performed poorly.

GateUser-6433627c

2026-01-20 23:48:49

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On January 21, Trump escalated tariffs threats against Europe and took a tough stance on the Greenland issue, further fueling market concerns about a renewed US-Europe trade war. According to CEX market data, the crypto market was hit hard overnight, with Bitcoin dropping below $88,000, currently at $88,430. Ethereum fell to $2,920, now at $2,943. The total market capitalization of cryptocurrencies evaporated 4.6% in a single day, now at $3.072 trillion. Some altcoins led the decline, including: CEX Life down 19.3% in 24 hours, now at $0.172; ROSE down 17.5%, now at $0.0165; PHB down 13.6%, now at $0.0038; MORPHO down 11.02%, now at $1.145; STO down 10.98%, now at $0.0877. The three major US stock indices closed sharply lower last night, with the S&P 500 down 2.06%, marking the largest single-day decline since October last year. The Dow fell 1.76%, and the Nasdaq dropped 2.39%. US stock-related crypto stocks plummeted, including: Strategy down 7.76%, CEX(COIN) down 5.57%; Circle(CRCL) down 7.45%; MARA Holdings(MARA) down 8.71%; Riot Platforms(RIOT) down 5.93%; BitMine Immersion (BMNR) down 9.39%; SharpLink Gaming (SBET) down 9.59%.

BTC-1,77%

ETH-4,01%

PHB-1,32%

MORPHO-3,83%

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