The recent decline in cryptocurrencies is actually driven by changes in the global trade situation. The new US administration announced that starting from February 1, 2026, it will implement a new round of tariffs on several European countries. Once this news broke, market risk aversion immediately intensified. When trade frictions escalate and economic outlooks become uncertain, investors naturally reduce their risk exposure. High-volatility assets like Bitcoin are the first to be sold off, becoming targets of liquidation. Everyone is shifting towards relatively safer assets, which puts pressure on the virtual currency market. In simple terms, this is the macro-level risk pricing readjusting.