Bitcoin has erased all of the gains it recorded after Donald Trump’s reelection and return to the White House at the end of 2024. The asset plunged to just above $65,000 earlier today, putting it slightly in the red compared to levels seen around the presidential election.
The latest decline means Bitcoin has fallen nearly $25,000 since last Wednesday and has lost close to half of its value from the all time high reached in early October 2025.
As the sell off deepens, many investors are questioning what triggered the move. According to recent commentary, the downturn does not appear to be driven by negative developments within Bitcoin’s fundamentals. Instead, analysts suggest sentiment is playing the dominant role.
The Kobeissi Letter stated that the repeated price drops are largely the result of emotional selling. They explained that high risk assets like Bitcoin are heavily influenced by investor psychology, and the current slide reflects a broad exit driven by fear rather than any structural weakness in the network.
Doctor Profit, an analyst known for consistently bearish forecasts, said he has placed large buy orders between $57,000 and $60,000, which he views as a likely bottom for the current trend. He noted that he plans to hold those positions for two to three months and has no interest in buying at higher levels.
Another analyst, MMCrypto, said that while Bitcoin does appear to be in a bear market, he believes the worst of it is nearly over from a timing perspective.
Altcoins have also suffered heavy losses, with XRP standing out as the weakest performer. The token has dropped nearly twenty percent in the past twenty four hours and is now struggling to hold above the $1.25 level.
