Bitcoin Tests $93K Resistance as U.S. Futures Turn Red on EU Trade Tensions — Can BTC Hold?

Bitcoin dropped $3,600 on January 19, 2026, after U.S. futures opened in negative territory amid escalating trade tensions between the United States and the European Union. The cryptocurrency now trades at $93,034.76, down 2.23% in the past 24 hours while maintaining a modest 1.3% weekly gain.

The selloff followed President Trump’s announcement of fresh 10% tariffs on EU imports over the weekend. This marks the first major tariff escalation in nearly three months, threatening trade flows worth approximately $1.5 trillion.

Bitcoin touched the $92,000 level multiple times throughout the day before recovering. The asset reached approximately $96,000 earlier this week as investors fled declining U.S. equities, but those gains have now evaporated.

Polymarket odds for Bitcoin hitting $100,000 in January collapsed to 25%, down from nearly 85% the previous week.

📉 UPDATE: POLYMARKET ODDS FOR BITCOIN HITTING $100K IN JANUARY DROP TO 25%. pic.twitter.com/C0zdfRfFV6

— Coinwaft (@coinwaft) January 19, 2026

Bitcoin ETFs recorded a daily net outflow of 1106 BTC, equivalent to $102.66 million. However, weekly inflows remained positive at 18,138 BTC, valued at $1.68 billion, according to lookonchain data.

Total crypto market liquidations reached $875 million within 24 hours, with $546 million in long positions wiped out.

Bitcoin Slides as Trade War Escalation Sparks Risk-Off Selloff

The geopolitical risk-off sentiment sent investors fleeing to traditional safe havens. Gold futures surged to a record $4,660 per ounce, while silver climbed above $94 per ounce for the first time in history.

BREAKING: Gold futures surge to a record high of $4,660/oz as markets react to President Trump’s new 10% tariffs on EU countries.

Gold continues to tell the future. https://t.co/O0OxJZlXyT pic.twitter.com/1ZMCvooYBn

— The Kobeissi Letter (@KobeissiLetter) January 18, 2026

Silver has gained 31% in 2026 alone. Meanwhile, Bitcoin’s correlation with risk assets resurfaced as traders trimmed crypto exposure across the board.

The S&P 500 faced resistance near the 7,000 level, amplifying cross-asset caution throughout Monday’s trading session. Over $100 billion was wiped from the total crypto market capitalization in the last 12 hours.

📊 UPDATE: OVER $100B HAS BEEN LIQUIDATED FROM THE CRYPTO MARKET CAP IN THE LAST 12 HOURS. pic.twitter.com/17hdVNfoG4

— Coinwaft (@coinwaft) January 19, 2026

European retaliation remains a significant concern for markets. Analysts warn that if the EU builds trade deals with U.S.-sanctioned countries, America could face exclusion from key trade routes.

Adding to the uncertainty, the Supreme Court is expected to rule Tuesday on the legal validity of Trump’s tariff authority. The court has delayed this decision twice already.

A ruling against Trump would break confidence in policy stability. A ruling in favor would force markets to price in full EU tariff damage. Both outcomes present downside risk for equities and crypto.

Paradex Glitch Triggers $234 Million in BTC Liquidations

Compounding the selloff, a database error on decentralized exchange Paradex briefly displayed Bitcoin at $0. The glitch triggered $234 million in BTC liquidations before the chain rollback restored affected funds.

The incident shook confidence in decentralized trading platforms and exacerbated selling pressure during an already volatile session. Over $150 million worth of leveraged positions were liquidated in just 60 minutes.

Market participants now watch for progress in trade talks at Davos, scheduled for January 19-26. Bitcoin’s ability to decouple from equities remains the key question for traders.

BTC Holds Above Key Support as Bollinger Bands Signal Neutral Momentum

Bitcoin currently trades between the middle and upper Bollinger Bands on the daily chart. The price broke below the 20-day simple moving average at $92,625, registering a bearish signal.

The upper Bollinger Band sits at $97,334.66. The lower band rests at $87,347.28. The middle band at $92,340.97 now acts as immediate resistance.

The Relative Strength Index reads 58.42, up from 53.57 at the previous close. This places the indicator in neutral territory, neither overbought nor oversold.

Key resistance levels include $94,200 as the pivot bulls must reclaim, followed by $97,334 at the upper Bollinger Band. The $97,900 zone presents confluence with early January highs.

Support levels begin at $92,340 at the 20-day SMA, followed by today’s low at $91,973. The lower Bollinger Band at $87,347 and the 2026 yearly open at $87,000 provide additional downside targets.

Volume remains relatively light compared to the major selling waves in November and December. This suggests lack of strong conviction from either bulls or bears at current levels.

A close below $92,000 would confirm bearish momentum with initial targets at $90,000 and extended targets near $87,347. Bulls need to reclaim $94,200 decisively to target the upper Bollinger Band.

The short-term bias remains slightly bearish. Confirmation requires a definitive close below $92,000, which could trigger accelerated selling toward the yearly open at $87,000.