Trump Escalates Threat of Tariffs on Europe, Overnight Crypto Market Sees Another Major Setback, US Stock Crypto-Related Stocks Plunge

By: theblockbeats.news|2026/01/21 09:00:23

BlockBeats News, January 21st, Trump escalated the tariff threat against Europe and took a tough stance on the Greenland issue, further exacerbating market concerns about the resumption of a trade war between the US and Europe. According to HTX market data, the crypto market suffered another heavy blow overnight, with Bitcoin falling below $88,000, now trading at $88,430, and Ethereum dropping to $2,920, now trading at $2,943. The total market capitalization of the crypto market evaporated by 4.6% in a single day, now standing at $307.2 billion. Some altcoins led the decline, including:

Binance Life with a 24-hour decrease of 19.3%, now trading at $0.172;

ROSE with a 24-hour decrease of 17.5%, now trading at $0.0165;

PHB with a 24-hour decrease of 13.6%, now trading at $0.0038;

MORPHO with a 24-hour decrease of 11.02%, now trading at $1.145;

STO with a 24-hour decrease of 10.98%, now trading at $0.0877.

The three major US stock indexes plummeted last night, with the S&P 500 index falling by 2.06%, marking the largest single-day drop since October last year, the Dow falling by 1.76%, and the Nasdaq falling by 2.39%. US stock crypto concept stocks also tumbled, including:

Strategy plummeting by 7.76%,

Coinbase (COIN) dropping by 5.57%;

Circle (CRCL) dropping by 7.45%;

MARA Holdings (MARA) dropping by 8.71%;

Riot Platforms (RIOT) dropping by 5.93%;

BitMine Immersion (BMNR) dropping by 9.39%;

SharpLink Gaming (SBET) dropping by 9.59%.

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