Bitcoin's slide deepened on Friday, falling 25% from its all-time high of $109,588 reached on Jan. 20, the day Donald Trump was inaugurated. Bitcoin Drops 25% From All-Time High as Crypto Selloff Accelerates Bitcoin fell 5.5% to $79,152, its lowest since Nov. 10. The decline is part of a broader crypto market sell-off that has seen Ethereum (ETH) down 7.3%, Solana (SOL) down 7.1% and XRP down 7.8%. Bitcoin surged after Trump won the election as investors bet on his pro-crypto stance and promises to make the United States the “crypto capital of the planet.” But sentiment quickly turned around as investors grew concerned about Trump's combative stance on global trade and broader economic risks. “Given the macro environment, it’s not surprising to see us where we are,” said Stefan von Haenisch, director of OTC trading at BitGo Inc. He noted that investors are still waiting for Trump to outline concrete crypto policies, including a possible Bitcoin stockpile for the U.S. Broader Market Turmoil and ETF Outflows The crypto sell-off coincided with risk aversion in Asian markets. Investors dumped stocks after Trump’s tariff announcement, with 25% tariffs on Canada and Mexico set to come into effect on March 4, and imports from China facing an additional 10% tax. The MSCI AC Asia Pacific Index fell 2% in response. Bearish sentiment also affected U.S. Bitcoin spot ETFs, which saw more than $1 billion in outflows on Tuesday, the largest single-day withdrawals since their launch. How Low Can Bitcoin Fall? According to Ruslan Lienkha, head of markets at YouHodler, traders are currently eyeing key support levels with $70,000 pegged as a possible bottom. However, he cautioned against assuming the sell-off will push Bitcoin that low, saying the market would need more bearish momentum for such a move. Despite the recent downturn, the Trump administration has made moves in favor of crypto. His team has appointed crypto advocates to key positions, and the SEC recently closed investigations into several crypto firms, signaling a shift in regulatory stance. *This is not investment advice. Continue Reading: Bitcoin's Decline Continues! 25 Percent Drop From ATH Level, Which Level Is The Bottom? Here Are The Details
