Bitcoin Plunge Deepens as Crypto Loses All Gains Since Trump’s Re-election

Bitcoin’s sharp sell-off has intensified, pushing the world’s most valuable cryptocurrency below the $70,000 mark and erasing all gains made since Donald Trump’s re-election in 2024. The downturn marks one of the steepest declines in recent years and signals a shift in investor sentiment toward digital assets.

As of early Thursday trading, Bitcoin slipped as low as $69000 before stabilising near $70000, extending a week-long rout that has dragged prices down nearly 20 percent since the start of 2026. The fall represents Bitcoin’s worst weekly performance since late 2022, when the collapse of major crypto firms rattled the market.

A Steep Fall From Record Highs

Bitcoin’s latest decline comes after a historic surge that saw prices hit an all-time high above $127,000 in October 2025. The rally had been fuelled by expectations that a second Trump administration would usher in lighter regulation and position the United States as a global hub for cryptocurrencies.

Those hopes helped propel Bitcoin past $100000 for the first time in December 2024, with further rallies in early and mid-2025. However, prices have steadily trended lower since the autumn peak, suggesting that optimism has given way to caution.

Market analysts say the breach of $70,000 is significant. The level has long been viewed as a psychological and technical support zone, and falling below it raises the risk of deeper losses toward the $60,000–$65,000 range.

Policy Promises Meet Political Reality

Trump’s re-election campaign included bold pledges to turn the US into the “cryptocurrency capital of the world.” After returning to office, he announced plans for a strategic crypto reserve that would include Bitcoin and several other digital assets.

Yet progress on regulation has stalled. A Trump-backed bill aimed at setting clearer rules for crypto trading remains stuck in the US Senate, amid disagreements between traditional banks and crypto firms. The legislative deadlock has injected fresh uncertainty into a sector that once rallied on policy optimism.

Compounding concerns, Democratic lawmaker Ro Khanna has announced plans to investigate Trump-linked crypto venture World Liberty Financial following reports of a high-value foreign investment deal, further clouding sentiment around the industry.

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Broader Market Pressure Hits Crypto

Bitcoin’s slide has unfolded alongside a broader sell-off in global markets. Equity indexes in Asia have weakened, commodities such as silver have suffered sharp drops, and investors have retreated from riskier assets.

Other cryptocurrencies have fared even worse. Ether has fallen more than 20 percent this week, while Solana has slumped to levels not seen in nearly two years. Analysts note that large-scale liquidations and reduced institutional buying—particularly from US-listed Bitcoin exchange-traded funds—are accelerating the downturn.

For now, Bitcoin appears to be trading less on hype and more on liquidity and capital flows, suggesting volatility may persist. With key support levels broken and confidence shaken, the crypto market faces a critical test in the weeks ahead.