Bitcoin sellers entered at the Wall Street open to drive BTC price action below $90,000, but a six-figure price target stayed in play.
Bitcoin (BTC) narrowly avoided major losses at Tuesday’s Wall Street open as US markets reacted to EU trade-war fears.
Key points:
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US markets offer their first reactions to the EU trade war over Greenland with $90,000 BTC price support on the line.
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Gold and silver continue to top all-time highs while stocks panic.
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Bitcoin can still hit $100,000 again if support here holds, a popular trader says.
Bitcoin struggles with stocks on Greenland nerves
Data from TradingView showed a battle unfolding for $90,000 as BTC price support.
US stocks opened with predictable losses, with the S&P 500 and Nasdaq Composite Index both down around 1.5% at the time of writing.
Precious metals, meanwhile, continued their record bull run — gold hit $4,750 per ounce for the first time, while silver coiled beneath $96.
Both sides’ rhetoric ramped up before the open, with US President Donald Trump sharing images of both Greenland and Venezuela forming part of US territory. This followed posts showing text communications between Trump and European state leaders.
“I had a very good telephone call with Mark Rutte, the Secretary General of NATO, concerning Greenland,” Trump wrote in one of several posts on Truth Social.
“I agreed to a meeting of the various parties in Davos, Switzerland.”
Trader: $100,000 BTC price target still in play
With the focus thus switching to the World Economic Forum taking place through Jan. 23, crypto market participants were in “wait and see” mode.
Related: BTC vs. new $80K ‘liquidity grab’: Five things to know in Bitcoin this week
“$BTC got rejected from its weekly bull market support band,” trader BitBull summarized in his latest X analysis, pointing to two overhead moving averages.
“This happened twice in Q1 2025, before BTC finally reclaimed it and hit a new ATH. As long as BTC holds above the $88,500 level, the uptrend is still intact.”
Earlier, Cointelegraph reported on the various key BTC price levels now in play as support retest zones.
Among them was a warning from veteran trader Peter Brandt that $60,000 or lower could result from the latest rejection at $98,000. Brandt subsequently said that BTC/USD was in a diagonal structure unsuitable for trading.
Bitcoin has now become a diagonal pattern. I do NOT trade diagonal patterns. I leave these for the Elliott Wave guys who without fail after the next big move will tell us how they had it all figured out $BTC pic.twitter.com/hj04jJHdod
— Peter Brandt (@PeterLBrandt) January 20, 2026
Swapping his characteristic bearishness for cautious optimism, meanwhile, trader Il Capo of Crypto saw the potential for a reclaim of $100,000 on two-day timeframes.
“Support zone here. Hold this and $100k levels should be next,” he told X followers.
“This could be an important higher low for the entire crypto market, before strong bullish continuation.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
