Bitcoin has come under renewed pressure, with the bitcoin price USD slipping as global markets react to fresh political uncertainty from the United States.
UK investors are watching closely as Bitcoin hovers near a key psychological level that could shape its next major move.
Why did the Bitcoin price USD fall below $92,000?
Bitcoin fell by more than 1.8%, dropping below $91,920, after US stock futures turned lower. The decline followed comments from former US President Donald Trump, who threatened new tariffs on eight countries that opposed his stance linked to Greenland.
With US cash markets closed, traders used Bitcoin as a way to express broader market fear. At the same time, traditional markets sent clear warning signals.
- Nasdaq 100 futures dropped by roughly 1.2%
- Gold and silver prices rose, signalling a move into safer assets
- Bitcoin fell alongside risk assets rather than acting as a hedge
“US markets closed today, so investors are expressing their macro positions through BTC,” said analyst Nic.
“If we fall below $90,000 before market open tomorrow, ETF holders may also start dumping.”
How did Greenland-related tariff threats unsettle crypto markets?
Although Greenland itself has little direct link to crypto, markets are highly sensitive to trade tensions. Trump’s tariff warnings revived concerns around trade wars, inflation, and slower global growth.
Historically, these conditions have been negative for Bitcoin in the short term. During periods of heightened uncertainty, institutional investors often cut exposure to volatile assets first, including cryptocurrencies.
UK investors have seen similar patterns during recent events such as the 2022 cost-of-living crisis and the US banking stress in 2023, when Bitcoin initially sold off before stabilizing later.
What technical pattern is worrying traders right now?
Last week, Bitcoin appeared to be breaking out from an ascending triangle, a bullish pattern that pointed towards $100,000 and above. That setup has now failed.
Instead, charts show a rising wedge, which often signals fading upside momentum.
Key technical observations include:
- Bitcoin is making higher lows, but gains are becoming smaller
- Price is capped below key moving averages between $95,000 and $100,000
- A downward trendline from November’s peak continues to act as resistance
Momentum indicators, such as the Relative Strength Index, have also struggled to move decisively higher, reinforcing the cautious outlook.
Is a drop below $90,000 now likely?
The $90,000 level is now seen as a critical support zone. A clear break below it could open the door to a deeper pullback.
# Bitcoin price right now:
1BTC= $92,300 usd pic.twitter.com/FC2uM7k6r4
— BTCisFreedom (@avenfi) January 19, 2026
Analysts are watching the following downside areas closely:
- $84,000, which acted as interim support in December
- $80,000, a stronger demand zone from the previous sell-off
If buyers manage to defend current levels, Bitcoin could still attempt a short-term rebound towards $99,000 to $100,000, but confidence remains fragile.
What would restore the bullish Bitcoin outlook?
For sentiment to turn positive again, Bitcoin needs to regain lost ground and break above heavy resistance.
Traders are looking for:
- A sustained move back above $95,000
- A clean break through the $100,000 barrier
- Strong trading volume to confirm renewed demand
Such a move would invalidate the bearish wedge and reopen upside targets near $107,000.
Are large Bitcoin investors selling?
On-chain data suggests a clear divide among Bitcoin holders. The largest wallets, including those holding more than 100,000 BTC and those in the 10,000 to 100,000 BTC range, have been gradually reducing their holdings. This points to profit-taking rather than fresh accumulation.
Meanwhile, mid-sized wallets holding between 1,000 and 10,000 BTC continue to add to their positions.
While this shows dip-buying interest, it has not yet been strong enough to offset selling pressure from larger players.
Why does this matter for UK investors?
Although Bitcoin is priced in US dollars, UK investors feel the impact directly through exchange rates, UK-based trading platforms, and FCA-regulated products linked to Bitcoin.
For many retail investors who entered near recent highs:
- Sharp moves around $90,000 could trigger emotional selling
- Volatility may remain elevated while global politics dominate headlines
