Bitcoin experienced notable price volatility following U.S. President Donald Trump's State of the Union address on February 25, 2026, in which he made no mention of cryptocurrency or Bitcoin. The market had been anticipating a pro-crypto statement, given Trump's past supportive stance, leading to a pre-speech rally that saw Bitcoin climb to the $66,000 level.
Prominent gold advocate and Bitcoin critic Peter Schiff had publicly warned of a potential sell-off, arguing that the recent price recovery was fueled by expectations of a Trump mention. Schiff stated, "If the President makes no mention of Bitcoin in his State of the Union address, I expect a sell-off." He further contended that even if Bitcoin was mentioned, it could trigger profit-taking from those who had bought on the rumor, leading to a price drop.
President Trump's speech focused on traditional policy areas including the economy, jobs, border security, and national security, while approving a $1 trillion defense budget. His silence on digital assets came as a surprise to many in the crypto community, leading to immediate selling pressure. Bitcoin's price subsequently retreated to the $65,000 level, though the decline was less severe than some, like Schiff, had predicted.
The event highlighted the crypto market's heightened sensitivity to political commentary. Prediction markets had seen heavy betting on whether Trump would say "Bitcoin" or "crypto," underscoring his perceived influence over market sentiment. In a separate commentary, Peter Schiff described Bitcoin's multi-year rise as a "bursting bubble" and suggested its price could fall to $40,000.
