Bitcoin Plunges Nearly 8% Intraday, Breaks Below $73K, Wiping Out Gains Since Trump's Election Victory
Bitcoin fell nearly 8% on Tuesday, dropping below $73,000 and erasing all gains made since Donald Trump's election victory. The decline marks a 40% drop from its October 2025 all-time high, despite Trump’s pro-crypto stance and growing institutional adoption. Ethereum also saw sharper losses, falling over 10% to a May 2025 low.
Market sentiment has hit a low amid economic concerns and risk aversion, with traders attempting to buy the dip only to face further liquidations. The broader crypto market has been under pressure since a major sell-off in October 2025, which wiped out $19 billion in leveraged positions.
While some institutional holders remain, retail participation has declined. Smaller altcoins have significantly underperformed, with one small-cap index down nearly 70% over the past year. According to Bitwise CIO Matt Hougan, the market is in a "full-blown crypto winter" similar to 2018 and 2022, though it may be nearing its end based on historical cycle durations.
华尔街日报02/03 20:26