January 19th, the global financial markets suddenly tore apart.

U.S. stock futures are falling, cryptocurrencies are also dropping, and BTC has directly broken through $92,000. No warning signs, it just happened suddenly.

The root cause lies in trade. Trump is truly serious this time—regarding Greenland, he directly issued tariff threats to 8 European countries. Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland—export goods to the U.S. from these countries will be subject to a 10% tariff starting February 1st, and by June 1st, it will double to 25%.

Europe responded quickly. Macron immediately said "completely unacceptable," and turned to push the EU to activate the "Counter-Coercion Tool"—a measure never used before. The EU is also planning to impose retaliatory tariffs on $930 billion worth of U.S. goods. A real trade war is no longer speculation; it is the current reality.

The market suddenly panicked. All high-risk assets were hammered down, growth stocks sold off, cryptocurrencies dumped, and money desperately flowed into safe-haven assets like gold and silver. Investors have finally seen through—alliances are unreliable, trade agreements are unreliable, and what truly holds value are physical assets that cross borders and are not bound by a single system. Gold, silver, copper, aluminum—these are the hard currencies.

Compare this to last summer’s trade: European product tariffs rose to 15%, while U.S. industrial goods tariffs were zero. Some said that was Europe’s moment of humiliation. Now Trump is back with another round, and the logic is clearer than ever—compromises won’t bring peace; they only make opponents more ruthless.

On-chain data also confirms this. Bitcoin’s turnover rate has increased, with short-term investors selling aggressively. On the spot ETF side, on January 16th, there was a $394 million outflow in a single day, with U.S. funds fleeing. Today, we’ll see if the ETF continues to sell off; this correction may be far from over.