Trump Escalates Threat of Tariffs on Europe, Overnight Crypto Market Sees Another Major Setback, US Stock Crypto-Related Shares Experience Freefall

BlockBeats News, January 21st, Trump escalated tariff threats against Europe and took a tough stance on the Greenland issue. Market concerns about a renewed trade war between the US and Europe intensified. According to HTX market data, the overnight crypto market suffered another heavy blow, with Bitcoin falling below $88,000, now trading at $88,430, and Ethereum dropping to $2,920, now trading at $2,943. The crypto market's total market capitalization evaporated by 4.6% in a single day, now standing at $3.072 trillion. Some altcoins led the decline, including:

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

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

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

MORPHO with an 11.02% 24-hour decline, now trading at $1.145;

STO with a 10.98% 24-hour decline, 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 decline since October last year, the Dow Jones Industrial Average dropping by 1.76%, and the Nasdaq falling by 2.39%. US stock crypto concept stocks also tumbled, including:

MicroStrategy (MSTR) plummeting by 7.76%,

Coinbase (COIN) falling by 5.57%;

Circle (CRCL) dropping by 7.45%;

MARA Holdings (MARA) falling by 8.71%;

Riot Blockchain (RIOT) falling by 5.93%;

BitMine Immersion (BMNR) dropping by 9.39%;

SharpLink Gaming (SBET) falling by 9.59%.