• Bitcoin price slips below $91,000 on Tuesday, printing six consecutive red candlesticks.
• Gold hits a fresh all-time high, while risk assets continue to sell off amid rising geopolitical and tariff tensions.
• The technical outlook suggest deeper correction, with momentum indicators flashing early bearish signals.

Bitcoin (BTC) price extends losses, trading below $91,000 at the time of writing on Tuesday amid escalating geopolitical tensions over Greenland. Investors are moving toward safe-haven assets, with Gold (XAU) hitting fresh all-time highs, while BTC continues to nosedive. The technical outlook for the Crypto King suggests a deeper correction ahead, with momentum indicators signaling early bearish signs.

Greenland geopolitical risks lift Gold, weigh on Bitcoin

Bitcoin opened the week on a negative note, following weekend news that US President Donald Trump threatened to impose tariffs on eight European nations that opposed his plan to take Greenland. Trump announced a 10% tariff on goods from countries including Denmark, Sweden, France, Germany, the Netherlands, Finland, the United Kingdom (UK), and Norway, starting on February 1, until the US is allowed to buy Greenland.

In response to Trump’s tariff threats, on Sunday, the EU capitals are considering imposing €93 billion ($101 billion) in tariffs on the US or restricting American companies' access to the bloc’s market.

On Tuesday, geopolitical uncertainty intensified early after Trump posted on his Truth Social account that he had spoken with Mark Rutte, the Secretary General of the North Atlantic Treaty Organization (NATO), regarding Greenland. 

Trump explained in his post that Greenland is “imperative for national and world security” and confirmed plans for discussions involving multiple parties at the upcoming World Economic Forum in Davos, Switzerland. 

These comments added to broader geopolitical unease, prompting investors to move toward safe-haven assets such as Gold (XAU) and Silver (XAG), whose prices hit fresh all-time highs (ATHs) of $4,737.57 and $95.22, respectively, as shown in the chart below.

Bitcoin Price Forecast: BTC could extend a deeper correction

As of writing on Tuesday, Bitcoin price is trading down, slipping below the 50-day EMA at $92,345 and nearing the next immediate support at $90,000.

If BTC fails to find support around $90,000 (previously broken upper consolidation zone), it could extend the decline toward the lower consolidation boundary at $85,569, which coincides with the 78.6% Fibonacci retracement level (from the April low of $74,508 to October’s all-time high of $126,199).

The Relative Strength Index (RSI) on the daily chart is 47, slipping below the neutral 50 level, indicating bearish momentum is gaining traction. The Moving Average Convergence Divergence (MACD) indicator also shows a bearish crossover on Tuesday, further supporting the bearish view.

However, if BTC recovers, it could extend the advance toward the 61.8% Fibonacci retracement level at $94,253.