Bitcoin price (BTC-USD) volatility has surged as the global market grapples with a deepening trade dispute between the U.S. and Europe over the status of Greenland. On Tuesday, Bitcoin struggled to maintain the $90,000 support level as Wall Street opened with losses across major indices. While traditional stocks faced a sell-off, precious metals reached historic peaks, with gold (CM:XAUUSD) climbing to an unprecedented $4,750 per ounce. Despite the immediate risk-off sentiment, several high-profile traders believe the path to a six-figure Bitcoin price is still technically sound.
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Trump Pushes to Acquire Greenland
Geopolitical tensions spiked after President Trump intensified his push to acquire Greenland, confirming a call with NATO leadership. He shared on Truth Social, “I had a very good telephone call with Mark Rutte, the Secretary General of NATO, concerning Greenland.” This rhetoric, combined with threats of new tariffs against European allies, caused the S&P 500 (SPX) to drop 1.5% at the open. Investors are now looking toward the World Economic Forum in Davos for signs of a diplomatic resolution.
Crypto Analysts Focus on the Bull Market Structure
Despite the chaos in traditional markets, cryptocurrency analysts remain focused on long-term support levels. The trader BitBull recently emphasized that the current retreat is not a trend reversal, stating, “As long as BTC holds above the $88,500 level, the uptrend is still intact.” Other popular analysts, including Il Capo of Crypto, suggested that the current support zone could act as a launchpad for the next move toward $100,000, viewing the recent dip as a higher low for the entire market.
The divergence between Bitcoin and gold highlights a shift in how investors manage risk during trade wars. While gold is behaving as a classic hedge against instability, Bitcoin is currently reacting like a high-growth tech asset. If the $90,000 zone is reclaimed, it would signal that the market has looked past the immediate Greenland nerves. However, if support fails, traders have warned of a deeper retest of lower liquidity zones before any further bullish continuation.
At the time of writing, Bitcoin is sitting at $90,825.97.
