---
title: "Trump's inauguration day was the peak! Bitcoin has plummeted by 28%, and turmoil in the cryptocurrency market has intensified"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/230179224.md"
description: "On March 7th, the White House will hold its first cryptocurrency summit, where Trump will deliver a speech. Currently, the market is waiting for policy signals from Trump's summit"
datetime: "2025-03-01T11:21:33.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/230179224.md)
  - [en](https://longbridge.com/en/news/230179224.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/230179224.md)
---

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# Trump's inauguration day was the peak! Bitcoin has plummeted by 28%, and turmoil in the cryptocurrency market has intensified

On January 20, Trump was inaugurated as President of the United States, and Bitcoin reached a historic high of $109,241 on that day, regarded as the star asset of the "Trump trade."

However, in less than six weeks, the price plummeted by 28% to $78,226, with the cryptocurrency market's market capitalization evaporating by $1 trillion.

This dramatic change caught investors off guard, and market sentiment plunged to a low.

## Bitcoin's Plunge, Intensifying Turmoil in the Crypto Circle

Since Trump's inauguration day, Bitcoin has continued to decline.

In February, Bitcoin's monthly decline reached 18%, the largest single-month drop since June 2022. In the past week, the downward trend intensified, with a drop of 7.2% on Friday to $78,226, marking a 28% decline from its peak.

Bearish sentiment has also impacted the U.S. spot Bitcoin ETF. In February, the net outflow from U.S. Bitcoin ETFs reached $3.3 billion, setting a record for the largest monthly withdrawal in history. Zaheer Ebtikar, co-founder of Split Capital, stated:

> "Some major players have chosen to exit, significantly increasing selling pressure."

Media analysis indicates that Bitcoin's plunge is closely related to the global risk aversion triggered by Trump's tariff policies. Previously, Trump announced tariffs on multiple countries, raising concerns about a trade war. Asian and European stock markets fell in response, and the high-risk cryptocurrency market suffered heavy losses.

Stefan von Haenisch, head of over-the-counter trading for Bitgo Inc. in the Asia-Pacific region, remarked:

> "Given the turbulent macro environment, Bitcoin's decline was expected, as investors await Trump to fulfill promises regarding Bitcoin reserves."

Technical indicators show that Bitcoin's decline may have overshot. The price has fallen below the 200-day moving average for the first time since last October. The 14-day Relative Strength Index (RSI) has dropped into the oversold territory, reaching a new low since September of last year.

Ruslan Lienkha, market director at YouHodler, pointed out that according to technical analysis, $70,000 is the next technical support level, but it will only be reached if the stock market remains sluggish; Agne Linge, growth director at WeFi, stated that the "Fear and Greed Index" has dropped to 21, indicating extremely weak market confidence, with tariff issues remaining a key variable.

## Upcoming Summit

On March 7, the White House will host its first cryptocurrency summit, where Trump will deliver a speech.

Currently, the market is awaiting policy signals from Trump's summit

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