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Why are BTC, ETH up today: Trump backs off from Greenland tariffs in relief for bitcoin
Markets rebound after Trump dials down threats against Greenland
Today
Today
📉 Bitcoin and Ether Fall, Then Rebound as Trump Retreats from Greenland Tariffs
By/ News— January 22, 2026
Cryptocurrency markets experienced heightened volatility this week after a bout of geopolitical headline risk tied to U.S. policy on Greenland. Bitcoin (BTC) and Ether (ETH) initially tumbled in Asian trading but staged a sharp rebound after U.S. President Donald Trump stepped back from threatened tariffs connected to his Greenland negotiations, illustrating just how closely crypto prices are tethered to macroeconomic
At the lows, Bitcoin briefly dipped below $88,000 before rallying back toward the $90,000 level, while Ether also recovered after steep early losses. Other major digital assets, including Solana, XRP, Cardano, and Dogecoin, followed a similar pattern — quick drawdowns followed by partial recoveries as traders digested the changing headlines. �
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The price swings came amid rising concern earlier in the week, when Trump had floated the idea of imposing tariffs on European countries that were resistant to his push for negotiating over Greenland’s strategic position. That threat fueled risk-off sentiment across global equities and crypto markets alike. Stocks plunged and safe-haven assets such as gold surged as investors fled risk assets. �
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However, markets stabilized — and reversed course — after Trump publicly dialed back tariff threats and outlined a framework for de-escalation, which eased fears of escalating transatlantic trade tensions. U.S.