itcoin dropped below $92,000 on January 20, 2026, due to intensified "risk-off" sentiment following new US tariff threats against European nations. This geopolitical tension drove investors towards traditional safe havens like gold, and away from risk assets including equities and crypto majors. The drop, which triggered over $800 million in long liquidations, highlights Bitcoin's ongoing vulnerability to global macroeconomic concerns despite its narrative as a hedge against fiat inflation.