Bitcoin fell 7% below $90,000 at $86,915.13 as it succumbs to sell pressure by investors, Coin Metrics reported.
Sliding to $86,128.21, Bitcoin sees its lowest since November, 2024. This latest decline approximately wipes, about 20% off Bitcoin’s all-time high value since Donald Trump took office.
As markets grapple with uncertainties from Trump’s administration, stocks and equities have faced difficult sessions over the past week – top performing not exempt. This pressure has affected bitcoin and crypto markets. Driven by concerns over a slowing economy, S&P 500 has failed to recover from last week’s sell off.
As a result of the fall in Bitcoin’s value, investors were triggered to liquidate their holdings at market price in order to settle debts. Over $600 million have been seen liquidated at centralized exchanges over the last 24 hours, CoinGlass reports.
Bitcoin rallied at an all time high at the beginning of the year with many optimistic of a brighter future for the cryptocurrency as Trump’s administration was expected to bring renewed hope to the sector. However, after Trump took office the crypto market has seen little impact.
Investors are still hopeful of a long-term impact that Trump’s policies could have for crypto. Bitcoin has been trading at approximately $90,000.00 since November. Some analysts see possibilities of Bitcoin falling below $80,000.
Solana and Ether fell 8% on Monday while the meme coin market has seen a decline of 15.5% over the last 18 hours. Libra fell almost 22% while Trump meme coin declined 13%.
