Cryptofans disappointed with Trump – Bitcoin’s drops further to $79k

Investors started 2025 in a hopeful mood, convinced that new ATH prices would be reached very soon. However, since the start of Donald Trump’s new administration, stock markets have dropped and Bitcoin is officially undergoing a correction. What’s going on?

ATH

After Donald Trump’s election victory on November 5, crypto investors quickly sent Bitcoin higher. The rally was so widespread and broad that the largest digital coin ended the month of November with a gain of some 40%. The pinnacle followed in mid-December with a new all-time high of around $108,000 reached on various global trading platforms.

However, after Trump’s family launched their own memecoins (first ‘Trump’ and then ‘Melania’) during the weekend before his inauguration in January 2025, things went downhill. Bitcoin first tested support around $90,000, but then after Bybit was hacked last weekend (probably by the North Korean Lazarus group), all belief in a quick new all-time high for Bitcoin faded.

Earlier this week, Bitcoin fell below $90,000 for the first time since mid-November, and yesterday we touched $83,000.

This morning we dropped to $78,000 by the time of writing.

Libra

Some altcoins have lost 50% or even more since their mid-December peak. Dogecoin and the other memecoins in particular are suffering heavily.

The Trump memecoin has now lost 85% since its peak. Another political memecoin, that of Argentine President Javier Milei called Libra, ended in a scandal and a possible court case against the man.

Cryptofans have lost hope that President Trump will start creating a strategic Bitcoin reserve in the coming months or move quickly on the instalment of crypto regulations. The president is too busy with Ukraine, levying import duties on other Western countries and Elon Musk’s Doge department; Meanwhile, it is becoming clear that Trump’s political promises about Bitcoin were probably nothing more than… political promises.

Support

Lastly, according to estimates from Deribit, major investors (read crypto Whales) have now moved their entry point from $75,000 to $70,000. The  moves down further. Don’t be surprised by another drop down in the next few days.