Bitcoin (BTC) Price: Returns to $90,000 After Trump Cancels EU Tariff Plans

TLDR

• Bitcoin climbed back above $90,000 after President Trump announced progress on Greenland negotiations with NATO Secretary General Mark Rutte
• Trump stated he would not impose threatened tariffs on EU nations that were set to begin February 1
• The crypto experienced volatility throughout the day, dropping to $87,000 before recovering to above $90,000
• US stock markets rallied with Nasdaq and S&P 500 each gaining 1.3% while gold prices retreated to flat
• Crypto custody firm BitGo raised $212.8 million in its US IPO at a nearly $2 billion valuation

Bitcoin returned to the $90,000 level on Tuesday following President Trump’s announcement that he would not impose tariffs on European Union trading partners. The move came after what Trump described as a “very productive meeting” with NATO Secretary General Mark Rutte.

The president posted on Truth Social that discussions had formed “the framework of a future deal” regarding Greenland and the Arctic Region. He called the potential solution “a great one for the United States of America, and all NATO Nations.”

Trump then confirmed he would not move forward with threatened tariffs on EU nations. Those tariffs had been scheduled to take effect on February 1.

Bitcoin had experienced a volatile trading session before the announcement. The cryptocurrency dropped to $88,000 earlier in the day. It briefly climbed above $90,000 before falling again to nearly $87,000.

Following Trump’s post, bitcoin quickly shot back above the $90,000 mark. However, the gains proved short-lived as the cryptocurrency drifted lower again shortly after.

Market Response Across Assets

US stock markets responded positively to the news. The Nasdaq and S&P 500 each climbed 1.3% to session highs.

Precious metals moved in the opposite direction. Gold had been seeing strong buying pressure as trade tensions increased. Following the announcement, gold gave up earlier gains and returned to flat for the session at $4,770 per ounce.

Crypto Market Struggles

Crypto prices lagged behind the rally seen in global stock markets. Technology shares, which often serve as a trendsetter for crypto, posted much larger gains than digital assets.

Bitcoin traded at $90,001.7 by 01:19 ET on Thursday. The cryptocurrency faced resistance in holding above the $90,000 level despite the positive geopolitical developments.

Retail investors have remained cautious on crypto markets. A flash-crash in late 2025 dampened sentiment toward the sector.

Treasury Concerns

Markets have grown wary of potential selling pressure from crypto treasury companies. Prolonged price weakness in bitcoin could leave major treasuries struggling to meet debt obligations.

Strategy Inc disclosed a $2.13 billion bitcoin purchase this week. The announcement did little to improve sentiment toward the cryptocurrency.

Coinglass data showed bitcoin continued to trade at a discount in US markets. A delay in a key US crypto regulatory bill earlier this month also weighed on sector sentiment.

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