The cryptocurrency market has retraced most of the gains posted after the 2024–2025 U.S. presidential election. The total market capitalization for tokens excluding Bitcoin and Ethereum surged about 91% in the immediate aftermath, rising to roughly $1.16 trillion, before a sharp downturn. From the October 2025 peak, the sector has fallen by approximately 40%. The Total 3 cap now sits around $713 billion, down from its late-2025 highs and roughly back to November 2024 levels. Bitcoin declined more than 50% from its highs, briefly trading near $60,000 before bouncing to about $68,000. Ethereum peaked near $5,000 in August 2025, then dropped by around 60%. Investor sentiment has sunk to multi-year lows, and the Crypto Fear & Greed Index sits at 14, signaling extreme fear.

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