What is happening in the market 🔻🔻🔻

The current market bleeding is caused by the return of the trade war, but this time not between America and China, but between America and the European Union.

After America decided to impose a new 10% customs duty starting February 1st, increasing to 25% on a large group of European countries to pressure them into ceding Greenland, it seems that the European Union may decide to take countermeasures, including imposing new customs duties of 93 billion euros on American products.

Possibly preventing American companies from operating within EU countries.

The ambassadors of the 27 EU member states also discussed a measure called the Anti-Coercion Instrument (ACI), which could restrict American companies' access to the European market.

The crypto market reacted negatively to this news, with a massive wave of liquidations approaching $1 billion, mostly from long positions, and nearly 250,000 traders were liquidated.

We are waiting for the market opening.