<div id="readability-page-1" class="page"><div>[NEW YORK] Cryptocurrencies fell sharply as risk assets slipped, and haven demand strengthened, after US President Donald Trump proposed new levies on eight European countries.Bitcoin slid by as much as 3.6 per cent to below US$92,000 during Asia trading hours on Monday (Jan 19), while other tokens posted steeper losses. Ether, the second-largest digital asset, shed 4.9 per cent of its value, while Solana fell by 8.6 per cent. The sell-off knocked about US$100 billion off the crypto market’s total value, data by crypto data and analysis company CoinGecko showed. Bitcoin pared some of those losses to trade around 2.5 per cent down as of 6 am in New York.Trump said over the weekend that he would impose a 10 per cent tariff on goods from eight European countries starting from Feb 1, rising to 25 per cent in June unless a deal for a “purchase of Greenland” occurs. This resulted in US equity-index futures slumping as trading began on Monday, while haven assets gold and silver surged to record levels. Trump’s comments drew rebuke from European leaders, who are now poised to halt the approval of a trade agreement struck in 2025.Digital assets had been enjoying a promising start to the year, after ending 2025 in a malaise, unable to mount a sustained recovery from a brutal October rout. Bitcoin rose to just shy of US$98,000 on Jan 14, with strong inflows into a group of US-listed exchange-traded funds for the token. That was seen as “a rebound from the oversold levels driven by tax-loss selling and general capitulation coming into year-end”, said Richard Galvin, co-founder of Sydney-based hedge fund DACM. The latest bout of tariff concerns pumped the brakes on that, while gold hitting all-time highs confirms the selling is “more a risk-off move than anything crypto-specific”, Galvin added. About US$790 million of bullish bets on crypto were liquidated in the past 24 hours, CoinGlass data shows. Traders see US$90,000 as the next stop if current support fails, “while bulls point to institutional demand as a potential floor”, said Rachael Lucas, an analyst at Australian cryptocurrency exchange platform BTC Markets. BLOOMBERG</div></div>

Bitcoin fell below US$92,000, dropping 3.6% as US tariff fears impacted risk assets. Other cryptocurrencies like Ether and Solana also saw significant losses. President Trump's proposed tariffs on eight European countries led to a US$100 billion decline in the crypto market's total value. Despite a promising start to the year, concerns over tariffs halted Bitcoin's recovery. Analysts suggest that if support fails, Bitcoin could drop to US$90,000, while institutional demand may provide a potential floor.

- Cryptocurrencies experienced a significant decline as risk assets dropped following US President Donald Trump's proposed tariffs on eight European countries.  
- Bitcoin fell by up to 3.6% to below US$92,000, with other digital assets like Ether and Solana seeing larger losses, resulting in a total market value drop of around US$100 billion.  
- The tariffs, set to start on February 1, triggered negative reactions from European leaders and led to a surge in haven assets like gold and silver.

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Bitcoin falls below US$92,000 as tariff fears weigh on risk assets