Bitcoin Plunges to Around $88,000 as Greenland Crisis Deepens [Crypto Briefing]

According to The Financial News, Bitcoin (BTC) fell to around $88,000 on the 21st. The sharp drop came as tensions surrounding Greenland intensified, dealing a heavy blow to the market.
Data from global digital asset information platform CoinMarketCap showed BTC trading at about $88,000 as of 10 a.m. that day, down 4.15% over the previous 24 hours. Despite the pullback, BTC had gained 6.73% over the past week.
In the KRW Market, BTC was trading at around 133 million won. Based on figures from global crypto market comparison platform Cryprice, the Korea Premium stood at 1.00%.
The move is being attributed to rising geopolitical uncertainty stemming from the Trump administration’s push to bring Greenland under its control. Donald Trump decided to impose a 10% tariff starting next month on member states of the North Atlantic Treaty Organization (NATO) that have deployed troops to Greenland. As European countries began considering retaliatory tariffs, United States Secretary of Commerce Howard William Lutnick said on the 20th, local time, "We will return to a tit-for-tat phase."
The New York Stock Exchange (NYSE) also closed sharply lower across the board. On the 20th, local time, the Dow Jones Industrial Average (DJIA) dropped 870.74 points, or 1.76%, to finish at 48,488.59. The Standard & Poor's 500 Index (S&P 500) tumbled 143.15 points, or 2.06%, to 6,795.86, while the NASDAQ Composite Index (NASDAQ) slid 561.07 points, or 2.39%, to close at 22,954.32.
Investor sentiment deteriorated sharply. The Crypto Fear and Greed Index provided by CoinMarketCap stood at 32, indicating "fear," a steep drop from 42 the previous day, which signaled a "neutral" mood. The index ranges from 0 to 100, with readings closer to 0 interpreted as "extreme fear" and those near 100 as "extreme greed."
At the same time, Ethereum was trading around $2,955, down 7.13% from the previous day. Ripple (XRP) was changing hands at about $1.91, a decline of 3.68%.

yimsh0214@fnnews.com Im Sang-hyuk Reporter