Bitcoin’s Plunge Below $70,000: The Reality Behind Trump’s Crypto Dream

The price of Bitcoin has dropped below $70,000 for the first time since November 6, 2024-US Presidential Election Day, which saw Donald Trump emerge victorious. This is according to data from major cryptocurrency exchange Binance. As of 14:28 Moscow time, Bitcoin was trading at $69.97K, losing 4.37% over the course of the day. Image by Grok Previously, it was reported that the price of Bitcoin had sharply declined, falling below the $75,000 mark for the first time since April 7, 2025. Donald Trump promised to make the USA the ‘crypto capital of the world.’ His pledges include creating a national Bitcoin reserve, supporting mining, and removing pressure on the industry. However, the market has turned bearish, and the long-awaited altcoin season has not materialized.

Recent events have further impacted this downturn. In early February 2026, the Federal Reserve announced a tightening of monetary policy, fueling fears of reduced liquidity in the market. Trump’s administration, despite its initial enthusiasm for cryptocurrencies, has faced criticism for not implementing supportive policies quickly enough to counteract global economic pressures such as inflation and energy crises hitting mining operations.

Moreover, market analysts highlight that geopolitical tensions, particularly around energy resources, have led to increased operational costs for mining activities, causing some disruptions in the industry. Trump’s promise to alleviate pressure on the industry has also met skepticism due to regulatory hurdles and ongoing discussions about the environmental impact of cryptocurrency mining.

“The market conditions are more reflective of global economic trends rather than just internal policies,” noted a leading crypto market analyst. “Until we see structural support and international cooperation, the volatility is likely to persist.”

Amidst this backdrop, Bitcoin enthusiasts remain hopeful for a turnaround but acknowledge the challenging environment. The path to becoming a true ‘crypto capital’ is fraught with obstacles, as regulatory clarity and sustainable growth remain crucial yet elusive goals.