The world’s most popular cryptocurrency has fallen nearly 20 percent in value since the start of 2026. Bitcoin has dropped below $71,000, adding to a week of losses that have wiped out all of its gains since United States President Donald Trump’s re-election in 2024. Bitcoin, which is famed for its wild price swings, was trading at about $70,900 as of 04:30 GMT. The latest slide takes the value of the digital asset down by nearly 20 percent since the start of the year.
Bitcoin hit $100,000 for the first time in December 2024 and breached that level again in February and May 2025. But the asset has largely been on a downward trajectory since October, when it hit an all-time high of more than $127,000. Bitcoin and other digital currencies racked up explosive gains after President Trump’s re-election raised expectations of Washington adopting a light touch to regulating digital assets after years of regulatory crackdowns. Trump had pledged to turn the US into the world’s cryptocurrency capital during his re-election campaign, and launched his own crypto firm, World Liberty Financial, along with his sons, before winning the vote.
Shortly after taking office, Trump announced the establishment of a strategic crypto reserve that would include Bitcoin and four other cryptocurrencies. But a Trump-backed bill to regulate the trading of cryptocurrency has stalled in the US Senate amid disagreement between banks and cryptocurrency firms, casting doubt over the industry.
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