Greenland sinks crypto and stock markets

As predicted on Saturday, “Blue Monday” can sometimes be stormy, and this year was no different. After President Donald Trump claimed on Saturday that he would impose a 10% import tariff on all European countries that had sent troops to Greenland, the probability that Bitcoin would end January with a price above $100,000 dropped from 75% to 50% on prediction site Polymarket.

27%

After the targeted European countries failed to react as he expected on Sunday, crypto prices began to plummet. Currently, there’s only a 27% chance that Bitcoin will close the month on a positive note.

At the time of writing, Bitcoin is trading at $92,000

Almost all altcoins fell more sharply, and memecoins suffered particularly hard.

Asian markets closed negatively (except for Chinese markets, which saw good economic data), and European markets followed suit. US markets remained closed due to Martin Luther King Jr. Day.

Davos

Gold and silver rose in price, boosting the value of mining companies, but banks and luxury stocks took a step back.

Fortunately, there’s a place where European and American leaders can meet this week: Davos, Switzerland, for the World Economic Forum.