Bitcoin Price Reclaims $90K After Trump Rules Out Using Force Over Greenland
In a highly anticipated speech at the World Economic Forum in Davos, Switzerland, US President Donald Trump addressed numerous hot topics, including the escalating situation with Greenland and some cryptocurrency news.
BTC’s price, alongside most financial markets, rallied during and after the event, surpassing $90,000 after the recent meltdown.
The analyst at the Kobeissi Letter explained that Trump’s tariff threats typically follow a 12-step process. According to their estimations, the current situation between the US and the EU is on step seven, which means that dip buyers “step in and spark a relief rally, but this move often fades and leads to another push lower.”
This could explain the latest gains charted by BTC, in which the asset went past $90,000 after dipping beneath $88,000 earlier this morning. Nevertheless, the analysts said smart money typically begins buying between the 7th and 8th step.
During his speech, Trump also doubled down on his belief that the US should have the lowest interest rates, urging Fed Chair Powell to cut them next week.
On the matter of cryptocurrency regulations, the POTUS said the US must remain the digital asset capital of the world, and added that he hopes the legislation bill, which caused a lot of controversy last week, will be signed soon.
Despite his assurances that the US won’t use force in taking over Greenland, the EU appears to be standing strong this time. New reports indicate that the bloc has stopped working on a trade deal with the US following Trump’s latest comments.
BTCUSD Jan 21. Source: TradingView
The post Bitcoin Price Reclaims $90K After Trump Rules Out Using Force Over Greenland appeared first on CryptoPotato.
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