Trump Tariff Policies Pressure Bitcoin, Signs of Selling Pressure from Whale Activity, Analysts Say

On January 21, registered analysts at Cryptoquant, XWIN Research Japan, analyzed that the intensification of tariff policies under the Trump administration has been acting as a clear factor in the decline of Bitcoin since 2025.

The tariff policy directly affects corporate earnings, inflation, and financial policy outlooks, thereby reducing overall risk appetite and prompting adjustments in risk assets including Bitcoin (BTC). Since Bitcoin is traded around the clock, it tends to be sold off more readily than other assets.

According to XWIN, the phases of Bitcoin's decline from 2025 to 2026...