【January 19 Market News and Data Analysis】

1. Important events and data forecasts this week: United States #PCE , Bank of Japan monetary policy meeting;

2. #Fed candidate changes: Hassett may withdraw, Walsh becomes the biggest favorite;

3. Analysis: The market is worried about a trade war between the US and Europe, with #BTC experiencing a drop of over 3% in a short period;

4. Altcoins generally fell, with SENT dropping over 33% in 24 hours.

Today, the cryptocurrency market experienced a significant downturn, with Bitcoin's price briefly dropping below $92,000. This widespread decline was accompanied by the liquidation of high long leverage positions, making market sentiment particularly fragile. The direct catalyst was the sudden escalation of trade tensions between the US and Europe, with both sides proposing tariff plans involving substantial goods, raising investor concerns about the deterioration of the macro environment.

Research analysis indicates that this situation has exposed the structural weaknesses within the cryptocurrency market itself. Compared to other traditional risk assets that performed steadily or even rose during trade disputes, the decline in cryptocurrencies is particularly pronounced. This suggests that, at the current stage, cryptocurrency assets are still viewed by some investors as options to prioritize reducing holdings in the risk hierarchy, rather than as safe-haven choices. For Bitcoin, this relatively weak performance means its price is more prone to fluctuations when facing external macro shocks and may face pressure from capital flowing into other more resilient asset classes. The market needs stronger endogenous motivation or broader acceptance to effectively withstand the impacts of such systemic concerns.