FX168 Financial News Agency (Asia-Pacific) reported that on Thursday (January 22), during Asian trading hours, Bitcoin attempted to stabilize around the $90,000 mark. This came after former U.S. President Donald Trump eased tariff threats related to Greenland during his appearance in Davos, leading to a rebound in risk sentiment. The major tokens showed a similar trend to Bitcoin, experiencing a rapid decline followed by some recovery, indicating more of a &#34;stabilization&#34; rather than a clear return to risk appetite.
<img src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1769062794586?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://static.fx168api.com/img/user/738c728bd13ac655b891101d5dc94a9c/outside1769062794586"/>
(Source: coindesk)
Bitcoin's Roller Coaster Market
Bitcoin experienced a significant &#34;back-and-forth&#34; market overnight: it first dropped below $88,000, then rebounded to nearly $90,000 after Trump retracted tariff threats related to Greenland during the World Economic Forum in Davos.
This volatility marked the end of the intense fluctuations in the cryptocurrency market over the past 24 hours. Earlier this week, the crypto market had been under pressure during a global &#34;risk-off&#34; wave, triggered by factors including Trump's tariff threats against Europe, rising bond yields, and renewed tensions in the stock market. By Thursday's Asian morning session, the aforementioned pressures began to ease, and crypto assets followed suit in recovering.
Trump's Sudden Change of Attitude
Late Wednesday, as the U.S. market digested Trump's tough stance and the bond market remained unstable, Bitcoin briefly dipped to around $87,300. However, after Trump stated that he would not impose tariffs on European countries opposing U.S. control over Greenland and mentioned that a so-called &#34;future agreement framework&#34; had been established, market sentiment quickly shifted.
Trump indicated that he had set a framework for future agreements related to Greenland and decided to postpone the planned tariffs on eight European countries that were set to take effect on February 1. After a meeting with NATO Secretary-General Mark Rutte at the World Economic Forum in Davos, Trump posted on &#34;Truth Social&#34;: &#34;We have set a framework for future agreements for Greenland and the entire Arctic region based on a very productive meeting,&#34; and &#34;We have decided not to impose the tariffs that were scheduled to take effect on February 1.&#34;
This statement helped to cool the broader market: U.S. stock index futures turned positive, and Japanese government bonds rebounded for the second consecutive trading day; the safe-haven demand for gold, which had previously reached new highs, also cooled.
Cryptocurrency Market Closely Linked to Macroeconomic News
As the overall market stabilized, Bitcoin rebounded to nearly $90,000, nearly erasing most of its overnight losses. This event also highlighted that during uncertain times, the correlation between crypto assets and macroeconomic news remains very high
Despite Bitcoin often being promoted as an &#34;alternative asset,&#34; it still trades like a high-risk position when investors are eager to protect capital. Sudden changes in trade policies, bond yields, and global liquidity often directly transmit to the digital asset market—especially evident when positions are crowded.
The price performance of major tokens also confirms this pattern. Ethereum rebounded above $3,020 after dropping below $3,000 during the sell-off, with the intraday decline narrowing; Solana rebounded to around $130 after a drop during the period; XRP returned to around $1.95; Cardano rebounded to nearly $0.37 after hitting a weekly low; Dogecoin also recovered some ground to about $0.127. Overall, the rebound across various coins was limited, resembling stabilization rather than the start of a new risk appetite rally.
Two-Level Reversal
The reason this volatility is noteworthy is due to the rapid speed of the reversal.
When Trump's remarks reignited market concerns over trade conflicts and policy uncertainty, crypto prices quickly plummeted; yet, when the rhetoric softened, they also quickly recovered. Such &#34;sharp rises and falls&#34; have become increasingly common—in this market where traders react instantly to macro signals.
The bond market has been a significant driving factor behind this round of volatility. Earlier this week, Japanese long-term government bonds faced substantial selling, with yields rising to record levels, tightening global financial conditions and prompting funds to withdraw from speculative trading.
By Thursday, after officials called for calm, Japanese yields fell back, alleviating pressure on global interest rates and providing breathing room for risk assets.
As trading focus shifts back to the Asian and European sessions, crypto traders will be watching whether Bitcoin can hold above $90,000, or if the benefits brought by the &#34;Davos easing&#34; will quickly fade, leading to renewed volatility. The trends of the past two days have once again proven that global politics and the bond market still have the power to put the crypto market on a &#34;roller coaster.&#34;

Bitcoin attempted to stabilize at the $90,000 mark after Trump eased tariff threats related to Greenland, experiencing significant volatility. On Wednesday, Bitcoin briefly fell to around $87,300 but rebounded to nearly $90,000 following Trump's remarks. Market sentiment shifted due to Trump's statement, leading to a recovery in crypto assets. Trump announced a delay in tariff plans for eight European countries and set a framework for future agreements with Greenland

- Bitcoin attempted to stabilize around $90,000 on January 22, following comments from former President Donald Trump that eased tariff threats related to Greenland during the World Economic Forum in Davos.  
- The cryptocurrency market saw significant volatility, with Bitcoin initially dropping below $88,000 before rebounding when the tariff threats were retracted.  
- This indicates a close linkage between macroeconomic news and cryptocurrency prices, as shifts in global financial conditions continue to heavily influence digital asset markets.

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[Bitcoin Daily] Trump makes a 180-degree turn! Bitcoin surprises with a roller coaster return to 90,000, beware of a fleeting bullish moment?