The cryptocurrency market faced a severe geopolitical shock on Monday, January 19, 2026, as Bitcoin (BTC) shattered critical support levels to trade below $92,000. The violent sell-off, which triggered over $600 million in liquidations across the ecosystem, comes in the immediate aftermath of President Donald Trump’s controversial announcement of a 10% tariff on eight European nations. As tensions escalate over the administration’s renewed bid to acquire Greenland, the Bitcoin price crash on Jan 19 has sent shockwaves through the global financial landscape, hitting high-beta sectors like Solana, DePIN, and GameFi the hardest.

Trump’s ‘Greenland Tariffs’ Trigger Market Panic

The catalyst for today’s market rout was a weekend announcement from President Trump via Truth Social, where he outlined a punitive trade policy aimed at forcing a negotiation for the purchase of Greenland. Effective February 1, 2026, the United States will impose a 10% tariff on all goods from eight key European allies: Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland. The President warned that these levies would escalate to 25% by June 1 if a "complete and total purchase" deal is not reached.

This unprecedented move, described by European leaders as "commercial blackmail," instantly soured risk sentiment globally. While traditional safe havens like gold and silver surged to record highs—with gold touching $4,679 per ounce—risk assets were dumped en masse. The Trump Greenland tariffs impact was felt immediately in the 24/7 crypto markets, where uncertainty is often punished swiftly.

Crypto Market Liquidations Today Top $600 Million

Data from CoinGlass reveals the extent of the damage: approximately $650 million in bullish crypto positions were liquidated in just 24 hours. The leverage flush-out was particularly brutal for long positions that had built up following the early January rally. Bitcoin, which had been consolidating near $95,000, sliced through the $92,000 support, bottoming out near $91,917 in early Asian trading.

Altcoins Bleed: Solana and Ethereum Price Dip

While Bitcoin’s 3.6% slide was significant, the Solana Ethereum price dip was far more severe, reflecting a broader exodus from smart contract platforms. Ethereum (ETH) tumbled nearly 5%, struggling to maintain momentum despite the regulatory clarity provided by last year's GENIUS Act crypto framework. Solana (SOL), a favorite among retail traders for its ecosystem of decentralized physical infrastructure networks (DePIN) and GameFi projects, shed over 8.6% of its value.

The sell-off in these sectors highlights the fragility of high-beta assets during geopolitical crises. Investors appear to be rotating capital out of decentralized protocols and into sovereign debt and precious metals, fearing that a trade war between the U.S. and Europe could stifle global economic growth.

Regulatory Context: The GENIUS Act and Beyond

The crash is particularly jarring given the recent legislative wins for the industry. The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), signed into law in July 2025, had provided a stable regulatory environment that many analysts believed would insulate the market from such volatility. However, the current geopolitical storm has overridden domestic policy optimism.

Blockchain industry news in 2026 had been largely positive until this weekend, with institutional adoption steadying the ship. Yet, the specter of a trans-Atlantic trade war has reintroduced "macro risk" to the equation. Market observers note that while the GENIUS Act ensures the stability of USD-backed stablecoins, it cannot protect the valuations of speculative assets like BTC and SOL from macro-economic shocks.

Bitcoin Support Levels January 2026

Technical analysts are now scrambling to identify the next floor for digital assets. With the $92,000 level breached, the focus shifts to the psychological and technical support at $90,000. A breakdown below this level could open the door to a retest of the mid-$80k region, a zone not seen since late 2025.

Conversely, if the European Union and the Trump administration signal a willingness to de-escalate talks regarding Greenland, a "V-shaped" recovery remains possible. For now, traders are advised to exercise extreme caution. As institutional inflows pause to assess the trade war's duration, the coming days will be critical in determining whether this is a temporary correction or the start of a prolonged bear trend.