Bitcoin Erases Post-Trump Election Gains, Altcoins Crash by Double Digits: Your Weekly Crypto Recap

It’s been a catastrophic week in terms of price movements, but HYPE has defied the trend and stands out as a top performer.

It all started last Saturday. Bitcoin had finally regained some ground after the previous crash to $81,000 and was around $83,000-$84,000, which was quite unusual as the two largest precious metals – assets known for their stability – crashed by double digits on Friday.

This increased volatility hit BTC on Saturday when it fell from $84,000 to less than $76,000. The bulls tried to intervene, but all they could do was help BTC recover slightly to $79,000. The asset was quickly rejected there, falling below $74,000 on Monday. The same failed rebound scenario repeated itself and the bears took full control of the market in the following days.

The highlight, at least for now, happened yesterday. Another brutal sell-off saw the largest digital asset fall to $60,000. As such, BTC not only erased all the gains charted after Trump’s re-election victory in late 2024, but actually fell below where it was at the time. Strategy’s bitcoin positions went deep into the red as the cryptocurrency dropped $30,000 in just over a week.

The reasons behind this disaster may vary and are still debated by analysts. From rising geopolitical tensions to the new Fed chairman to excessive debt in the markets. The fact is, however, that Thursday’s general crash alone wiped out more than $2.6 billion in leveraged positions.

Despite recovering to $67,000 at the time of writing, BTC is still down almost 20% weekly. Many altcoins have caused even more significant declines, such as ETH (-28%), BNB (-23%), LINK (-21%), XMR (-26%) and others. HYPE, on the other hand, continues to defy the general trend and is up 19% over the same period.

Market data

Market Cap: $2.38 trillion | 24H volume: $360 billion | BTC dominance: 56.6%

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BTC: $67,200 (-18.4%) | ETH: $1,950 (-28.3%) | XRP: $1.43 (-20%)

This week’s Crypto headlines you shouldn’t miss

Institutional exit? US investors are dumping ETH at a record pace. Even before Ethereum’s biggest drop below $1,800, reports claimed that US-based investors had intensified selling pressure, which was evident in the falling ETH Coinbase Premium Index.

Roubini predicts a ‘crypto apocalypse’ amid Bitcoin’s plunge under Trump administration. These times of pure uncertainty and price disasters are the perfect opportunity for industry haters, like Nouriel Roubini, to lash out again. Recently, the economist predicted a “crypto apocalypse,” explaining that the evolution of money and payments will be a gradual process, rather than the rapid revolution promised by crypto proponents.

Michael Burry Warns Bitcoin Treasury Firms Face Existential Risks as BTC Slump Deepens. Michael Burry also spoke out after years of silence, warning that Bitcoin Treasury Companies could soon face liquidation threats if the cryptocurrency’s price declines continue.

Crypto Winter has been around since January 2025, but recovery may be closer than you think. Despite the many new all-time highs BTC recorded before October last year, Bitwise CIO Matt Hougan recently claimed that the asset has been in a bear market since January 2025. But more optimistically, he noted that the end could be closer than you expect.

Tom Lee shrugs off ETH’s sell-off, saying fundamentals don’t match falling prices. Tom Lee, who has perhaps the largest exposure to ETH through Bitmine, dismissed the recent asset decline. Although Bitmine’s position is deep in the red, Lee says ETH’s crashing price does not reflect the strong fundamentals behind the token and network.

Bitcoin trades at 41% discount, Power-Law model shows fair value of $122K. Market commentator David based his analysis on the power law valuation model and estimated BTC’s fair value at just under $123,000. If this is true, it would mean that the cryptocurrency is currently trading at a huge discount of around 50%.