Quick Breakdown
- Bitcoin hovers near $95,000 as markets react to geopolitical and tariff-related uncertainties.
- USD/JPY hits 18-month high; key Japanese inflation and Bank of Japan rate decisions this week.
- Netflix earnings and corporate deals add volatility; traders monitor Big Tech alongside crypto markets.
Global financial markets opened this week on a risk-off tone, with cryptocurrencies particularly affected. According to a report by Bybit, the latest round of geopolitical developments, including President Trump’s announcement of a 10% tariff on eight European countries starting February 1, triggered broad selling of risk assets.
— Bybit (@Bybit_Official) January 19, 2026
Crypto markets react to geopolitical shocks
Bitcoin fell roughly 3%, while the broader CoinDesk 20 index dipped 4.6% at the time of reporting. Precious metals, including gold and silver, hit new highs as investors sought safer havens. Bybit analysts note that heightened global uncertainties are influencing crypto price behaviour, but past patterns suggest markets often stabilize after initial shocks.
Key crypto levels and assets to watch
Bybit’s analysis highlights three critical focus points for the week of January 19–23, 2026. First, Bitcoin is testing its 21-day simple moving average (SMA) near $95,000, with stronger support potentially at the 50-day SMA around $90,000. A rebound above $95,000 may occur if market sentiment improves. Second, USD/JPY movements are closely watched, as the Japanese yen recently weakened to an 18-month low against the dollar.
Upcoming data, including Japan’s December CPI and the Bank of Japan’s rate decision, could influence risk appetite in crypto markets. Third, investors are keeping an eye on Netflix’s quarterly earnings announcement, as the streaming company’s performance could impact broader risk sentiment and correlated crypto flows.
Bybit emphasizes that while these events are driving short-term volatility, crypto markets have historically demonstrated resilience, often recovering quickly once initial shocks dissipate. Traders are advised to monitor support levels and macro developments closely to gauge potential rebounds. Notably, analysts suggest the classic cycle, which often signals a bear market following previous BTC peaks, may no longer fully determine price behaviour. Instead, new sources of demand, supportive macro conditions, and regulatory backing could fuel upside momentum.
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