Bitcoin moves back to $90,000 as Trump pulls tariff threat after 'productive meeting' with NATO chief

Crypto markets continue with an up and down day — this time up — after President Trump signalled progress on talks regarding the future of Greenland.

"Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region," said Trump in a Truth Social post. "This solution, if consummated, will be a great one for the United States of America, and all NATO Nations."

The president then said he would not be imposing the threatened tariffs on EU nations that were set to go into effect on Feb. 1.

Bitcoin BTC$89,109.82, which earlier in the session had slumped to $88,000, then rose above $90,000, only to slump again to nearly $87,000, quickly shot back above $90,000 following the posting.

U.S. stocks pushed to session highs as well, with the Nasdaq and S&P 500 each climbing 1.3%. Precious metals, which had been seeing strong buying pressure as trade tensions bubbled higher, gave up earlier gains, with gold back to flat for the session at $4,770 per ounce.