Bitcoin price plummets, wiping out gains made since Trumps election

Bitcoin’s Value Plummets Nearly 20% Since Start of 2026

The value of Bitcoin has declined by nearly 20% since the beginning of 2026, falling below $71,000. This marks a continuation of the cryptocurrency’s recent downward trend, which began in mid-January.

As of 04:30 GMT on Thursday, Bitcoin was trading at approximately $70,900. The latest decline takes the value of the digital asset down by nearly 20% since the start of the year. In December 2024, Bitcoin reached its highest price of over $100,000 for the first time in history.

Bitcoin’s price has been volatile, with significant fluctuations occurring throughout 2025. The cryptocurrency hit an all-time high of more than $127,000 in October 2025. However, since then, it has largely been on a downward trajectory.

The decline in Bitcoin’s value is part of a broader market downturn, which also affects equities and commodities markets. Silver prices have dropped by as much as 16%, while benchmark stock indexes in Hong Kong and Japan have declined by about 1.3% and 0.7%, respectively.

A deal worth $500 million was recently signed to buy a 49% stake in Trump’s cryptocurrency venture, World Liberty Financial. US lawmakers are also investigating the company after reports of potential regulatory issues.

The current market trends will continue to be monitored for further updates.

Source: Al Jazeera