Trend: On January 21, 2026 (yesterday), BTC experienced a weak oscillating decline, dropping to around $87,900 in the morning. It briefly rebounded to near $90,100 but failed to hold above the $90,000 level, ultimately oscillating around $89,000. The 24-hour decline was approximately 3.2%, with the daily candles closing consecutively in the red.

Core reasons:

1. US-EU tariffs and geopolitical tensions: The Trump administration threatened to impose tariffs on the EU, triggering a global risk-off sentiment. Funds shifted to safe-haven assets, leading to a sell-off in the crypto market, with over $1 billion in 24-hour liquidation.
2. Technical bearish dominance: The daily chart broke below short-term moving averages, forming a descending channel. Selling pressure above the $90,000 level was heavy, bullish momentum was insufficient, RSI entered oversold territory but was unable to counteract macroeconomic suppression.
3. Institutional fund cautiousness: ETF fund inflows slowed, and stocks of major BTC-holding companies like MSTR plummeted, further intensifying market panic.