Bitcoin has erased all gains made since Trump's election victory.

Bitcoin has erased all gains made since President Donald Trump's re-election in 2024, with the cryptocurrency's price falling below $60,000 for the first time since October 2024. As of June 5, 2026, Bitcoin was trading at $59,770, having lost more than half its value since hitting an all-time high of over $126,000 in October 2025. The decline marks a reversal for an asset that initially surged following Trump’s election victory, when it reached an all-time high of $75,999.04.

The recent sell-off reflects broader investor caution and uncertainty over the future of cryptocurrency regulation in the U.S. Despite Trump’s pro-crypto stance and his pledge to make the U.S. the “bitcoin superpower of the world,” a Trump-backed regulatory bill has stalled in the Senate due to disagreements between banks and crypto firms. This regulatory uncertainty has contributed to a shift away from speculative assets like Bitcoin, silver, and gold.

Investors have also pulled significant funds from spot Bitcoin ETFs, with $5.7 billion withdrawn from such funds between November 2025 and January 2026. Companies in the crypto space, including Coinbase and Robinhood, have seen their stock prices fall sharply in recent months. Additionally, Trump’s own crypto ventures, such as World Liberty Financial and American Bitcoin, have seen substantial declines in value.

The decline in Bitcoin’s price underscores the challenges facing the cryptocurrency market as it navigates regulatory, economic, and political uncertainties.