Gold at Record High, Crypto Down $150B – What’s Going On?
Yahoo Finance·2026-01-21 17:54

The crypto market shed 150billionincapitalizationasBitcoinplungedbelow150 billion in capitalization as Bitcoin plunged below 88,000 amid a brutal leverage unwind, while gold surged past 4,800perounceforthefirsttimeinhistory.ThesharpdivergencecameasPresidentDonaldTrumpsescalatingtariffthreatsagainstEuropeanalliesoverGreenlandtriggeredabroadflightfromUSriskassets,withgeopoliticaltensionsreachingtheirhighestpointsincetheLiberationDaytariffannouncementsofApril2025.Bitcointumbled94,800 per ounce for the first time in history. The sharp divergence came as President Donald Trump’s escalating tariff threats against European allies over Greenland triggered a broad flight from US risk assets, with geopolitical tensions reaching their highest point since the Liberation Day tariff announcements of April 2025. Bitcoin tumbled 9% in 48 hours to 87 ...