Summary ⚈ The crypto market lost $520 billion during Trump’s first 100 days in office. ⚈ Bitcoin millionaires declined by nearly 20,000 amid market downturn and project failures. ⚈ Despite earlier losses, recovery signs are emerging as Bitcoin decouples from equities. President Donald Trump ’s first 100 days in office haven’t exactly been a boon for the cryptocurrency market — at least not to the tune that it was expected. While the Republican firebrand’s second tenure in the White House has brought a host of positive changes, chiefly concerning regulations , the fallout from Trump’s tariff policies has caused a shift away from speculative assets — and cryptocurrencies absorbed their share of the fallout. To be exact, data retrieved by Finbold from CoinMarketCap shows that, at the time of Trump’s second inauguration, on January 20, the total cryptocurrency market capitalization stood at $3.49 trillion. On April 29th, the 100th day of Trump’s second presidency, the total cryptocurrency market cap was $2.97 trillion — some $520 billion less than on January 20. By press time on May 1, the total crypto market cap stood at $3.01 trillion, returning above the psychological $3 trillion for the first time since March 3, almost two months ago. Total cryptocurrency market cap chart. Source: CoinMarketCap In addition, the number of Bitcoin ( BTC ) millionaires has also seen a significant reduction in this timeframe, down from 157,563 to 137,694. The rest of Trump’s tenure could see a cryptocurrency market revival With that being said, recent developments have been mostly positive. The biggest “drawdown” of Trump’s second presidency thus far saw the total cryptocurrency market cap fall to as low as $2.42 trillion. While we are presently still a fair bit away from the all-time high (ATH) market cap of $3.71 trillion, reached on December 9, a recovery is underway. Moreover, recent price action suggests that leading digital asset Bitcoin, which often sets the tone for its entire asset class, has stopped trading in tandem with equities — and started mirroring the price action of gold. Moreover, not all of the crypto market’s troubles can be attributed to the macro backdrop and the tariff war. While there has been a notable increase in failed cryptocurrency projects , a large degree of that can be attributed to the meme coin fad, which mostly seems to have died down as investors rotate to more stable, proven projects with utility. Featured image via Shutterstock The post Crypto market shrunk $520 billion in Trump’s first 100 days in office appeared first on Finbold .
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