After several countries from the European Union deployed troops to the most recent hot zone, Greenland, the POTUS announced a new set of tariffs against all of them, effective from February 1 until a deal for the complete acquisition of the island is reached.
The EU’s response was immediate, while US Democrats have pushed to introduce legislation to block Trump’s proposed tariffs. Despite all this drama, BTC’s price has remained stable, even though it’s the only financial asset available for trading during the eventful weekend.
Latest Developments
As reported yesterday, the newly announced tariffs against Denmark, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will be effective from February 1. The taxation will be 10% on all goods sent to the US, but if there’s no deal reached by June 1, the percentage will increase to 25%, said Trump.
Shortly after, reports emerged that the EU plans to halt approval of the trade deal with the US after the latest threats. The lawmakers also scheduled an emergency meeting for today.
According to analysts from the Kobeissi Letter, who said they spent 12 months researching Trump’s tariff playbook, this is the fourth step in the trade war. They believe financial markets will open lower on Sunday evening and Monday, but Trump will continue to play “hardball.”
Unlike the recent US-China bout, they noted that the Greenland situation will require more time because such a potential acquisition “can’t happen overnight and the EU remains highly opposed to even the idea of such a transaction.”
The Democrats were quick to move on US soil, reportedly planning to introduce legislation to block the POTUS’s proposed tariffs on EU countries.
BTC Stands Still
The trade wars have impacted the primary cryptocurrency in previous instances, especially the first one that unraveled in April 2025. At the time, BTC tumbled from $110,000 to $75,000.
However, it has been more resilient during the subsequent tariff battles, and the situation seems similar now, at least so far. Although the cryptocurrency markets are the only ones trading 24/7 and are open during this volatile weekend, BTC’s price has remained stable at just over $95,000.
Nevertheless, more fluctuations are expected later today as new developments unravel, the EU holds the meeting, and the futures markets open.
BTCUSD Jan 18. Source: TradingView
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