Bitcoin, stocks rally after Trump halts Greenland tariffs

Bitcoin reclaimed $90,000 after President Donald Trump announced he was backing away from threats to impose tariffs on several European countries regarding Greenland. Earlier, the leading digital asset had fallen to $87,300 following Trump's remarks at the World Economic Forum where he stated the US sought negotiations for Greenland but would not use military force. Market concerns had escalated over the weekend when Trump signaled potential 10% tariffs starting February 1st on imports from various NATO allies unless they met his demands, warning tariffs could rise to 25% by June. These threats caused significant market anxiety, leading to a major sell-off on January 20th where the S&P 500 fell about 2%, the Dow dropped nearly 1.8%, and the Nasdaq slid about 2.4%. However, markets reversed course after Trump reported a productive meeting with NATO Secretary General Mark Rutte and outlined a framework for a future deal. This easing tone reassured investors, causing major US stock indexes to jump and fully recover previous losses, with small-cap stocks leading the rally.

(Source：Crypto Briefing)