Markets Rout Sends Bitcoin Below $90,000 Again 21/01/2026

HOT stories for today

Market wrap:

• U.S. stocks sank in regular trading after President Donald Trump renewed tariff threats tied to Greenland ahead of his scheduled appearance in Davos on Wednesday. The Dow Jones Industrial Average fell more than 870 points, about 1.8%, while the S&P 500 slid roughly 2.1%. A rout in megacap technology shares led the decline, pushing the Nasdaq Composite down 2.4%. All three benchmarks suffered their worst session since Oct. 10, leaving the S&P 500 and Nasdaq in the red for 2026. The move echoed a “sell America” tone in broader markets, with Treasury yields jumping and the dollar weakening. The 10-year yield climbed sharply, briefly topping 4.3% intraday. 
• Trump on Tuesday intensified his push to take control of Greenland, adding a new tariff threat: a 200% levy on French wine and Champagne after French President Emmanuel Macron reportedly declined a seat on Trump’s “Board of Peace” for Gaza. Over the weekend, Trump said imports from eight NATO members would face escalating duties “until such time as a Deal is reached for the Complete and Total purchase of Greenland.” The tariffs would start at 10% on Feb. 1 and rise to 25% on June 1, according to a post on Truth Social. Investors are also bracing for a heavy earnings slate, with results seen as a key support for equities this year. Netflix shares fell in after-hours trading Tuesday after the streaming company delivered a narrow beat on fourth-quarter earnings. Johnson & Johnson, Halliburton, and Travelers are due to report on Wednesday.

Bitcoin Slide Triggers $1B Wipeout

• Bitcoin’s slide toward $89,000 triggered more than $1 billion of forced liquidations across crypto markets, underscoring how crowded bullish positioning had become ahead of the move. About 92% of the $1.09 billion in wipeouts came from long bets, according to CoinGlass data, a sign that traders were leaning heavily into further gains before prices abruptly reversed. The token briefly fell below the closely watched $90,000 level on Tuesday as global risk appetite deteriorated. Bitcoin fell as much as 3% to roughly $87,800 late in U.S. hours, then recovered to above $89,000 by Wednesday morning in Asia. The drop interrupted last week’s tight consolidation near recent highs and set off a cascade of margin calls that accelerated the selloff. 
• The retreat tracked a broader shift in sentiment tied to renewed tariff rhetoric from President Donald Trump and a selloff in Japanese government bonds that pushed global yields higher, a combination that tightened financial conditions and pressured risk assets. After months of rallying amid booming enthusiasm for artificial intelligence and record-setting equity markets, positioning across risk trades has looked increasingly stretched, leaving crypto particularly vulnerable once volatility picks up. The key question now is whether Bitcoin’s long-running battle around the $90,000 handle is finally breaking, setting the stage for a more durable trend, or whether the market is headed back into a familiar whipsaw range as traders reassess leverage and macro risks.

Stocks on the move:

• Netflix (NFLX): Shares of the streaming leader slid 4% after it posted a slim quarterly earnings beat. Netflix earned 56 cents a share for the period ended Dec. 31 versus 55 cents expected, while revenue came in at $12.05 billion, topping the $11.97 billion consensus, according to LSEG. The company said global paid subscribers reached 325 million, a new milestone.
• Interactive Brokers (IBKR): Shares of the electronic brokerage firm fell nearly 1% even after results beat expectations. The company reported adjusted fourth-quarter earnings of 65 cents a share, above the 59-cent estimate, per LSEG.
• Zions Bancorp (ZION): The regional lender rose almost 1% after reporting strong quarterly results and net interest income. Zions posted fourth-quarter earnings of $1.76 a share, beating the $1.57 consensus estimate, according to FactSet.
• United Airlines (UAL): Shares jumped 4% in extended trading after the carrier said it expects record earnings in 2026 on the back of robust recent travel demand. United forecast 2026 adjusted EPS of $12 to $14, broadly in line with the $13.16 estimate, and projected current-quarter EPS of $1 to $1.50 versus the $1.13 consensus.

Watchlist: NFLX, IBKR, ZION, UAL, JNJ, SCHW, HAL, NVDA, INTC

Key Economic Events Today:

EST time
08:30 am: USD President Trump Speaks
10:00 am: USD Pending Home Sales
10:00 am: USD Construction Spending



Earnings

BMO ( Before Market Open): Johnson and Johnson (JNJ), The Charles Schwab (SCHW), Prologis (PLD), Haliburton (HAL)
AMC (After Market Close): Kinder Morgan (KMI)


The TEFS Analyst team wishes you a successful day!