The value of Bitcoin fell by over 25% from its maximum during Trump’s election, due to the US president’s position and economic worries affecting crypto investments. The selloff escalated in Asia, influencing Bitcoin and other cryptocurrencies, including Ether, Solana, and XRP. Investors are anxious about the future, waiting for tangible actions from Trump to bolster the sector and his wider economic strategies.
The decline in Bitcoin intensified during Asian trading hours on Friday, causing the cryptocurrency to dip over a quarter from the peak it achieved less than six weeks ago, as traders dramatically reversed their positions that followed the election of US President Donald Trump.
The coin was down 5. 5% at $79,627 at 12:05 p. m. in Singapore, after reaching its lowest point since November 10. This was part of a wider selloff: Ether, the second-largest cryptocurrency globally, decreased by 7. 3% while smaller tokens S. . .
The selloff highlights a rapid turnaround in fortunes for digital assets, which surged after Trump’s election victory. Bitcoin reached its all-time high of $109,241 on January 20, the day of Trump’s inauguration, but has since declined amid concerns regarding the president’s confrontational stance and broader issues about the US economy.