BlockBeats News, January 19th, according to The Block, due to market concerns about a possible trade war between the United States and the European Union, it will further impact an already fragile market sentiment. Bitcoin, Ethereum, and the entire crypto market plummeted in the early morning, with Bitcoin dropping below $92,000 at one point, a brief drop of over 3%. The total long liquidations in the past 4 hours have exceeded $750 million. Analysts attribute this crash to market concerns about the prospect of a US-EU tariff war.
Presto Research analyst Min Jung said, “Compared to other asset classes, the crypto market still appears weak. Although concerns about the US-EU trade war have had the greatest impact on market sentiment, other risk assets, including the Korea Composite Stock Price Index (KOSPI), have remained stable or even risen. This indicates a clear inherent weakness in the crypto market, as investors prefer to allocate to other risk assets. Against the backdrop of rising markets in most sectors, crypto assets still lag behind.”
