Bitcoin (BTC) has tumbled below $73,000, marking its lowest price point since Donald Trump won the 2024 U.S. presidential election. The cryptocurrency is now down more than 15% year-to-date and has plummeted over 40% from its record high in October 2025.
The sell-off intensified on Tuesday, with Bitcoin dropping over 6% in a single day, dragging the broader crypto market down with it. Ethereum (ETH) fell to approximately $2,100. The decline follows a turbulent period triggered by a series of market-moving events, most notably President Trump's recent comments on tariffs, which sparked a massive liquidation event wiping out $19 billion in leveraged bets.
Despite a generally pro-crypto stance from the White House, which pledged to make the U.S. the world's "crypto capital," Bitcoin has failed to regain momentum. The market is now testing critical support levels, with the $65,000 level emerging as a key focal point for traders due to its psychological significance and technical confluence.
Analysts note that Bitcoin is currently trading more like a high-risk asset than "digital gold," a narrative that has been challenged as traditional safe-haven gold posted its largest single-day gain since November 2008. This precious metal rally, alongside a 15% surge in silver, was itself triggered by Trump's nomination of Kevin Warsh as Federal Reserve Chair, which tightened market expectations for interest rate cuts and balance-sheet policy.
The pressure on Bitcoin is multifaceted. Retail investors are exiting the market, while long-term holders have sold billions of dollars worth of BTC. Bitcoin exchange-traded funds (ETFs) are also experiencing significant outflows, particularly those targeted at smaller investors. For the bearish trend to reverse, bulls would need to reclaim the $87,551 level, with immediate resistance seen at $80,000 and $84,000—a scenario deemed unlikely in the current environment.
