Bitcoin drops below $74K, erasing post-Trump rally gains

Bitcoin crashed below $74,000 on Tuesday, falling more than 6% to hit its lowest level since November 2024, when Donald Trump secured his second presidential term.

The leading digital asset had climbed from $74,000 following Trump’s election victory to an all-time high of nearly $126,000 in October 2025. The rally was driven by expectations that his administration would pursue crypto-friendly policies.

Since then, the administration has taken a more lenient stance. A new SEC chair was appointed, the GENIUS Act passed, discussions around the CLARITY Act advanced, and a White House crypto council was established.

Still, these moves haven’t pushed digital assets higher. Investors appear to be expecting more concrete action from the Trump administration to revive momentum.

Bitcoin has now posted four consecutive monthly losses. Tuesday’s drop also marks a new low for 2026, erasing gains from the January rally that briefly pushed prices to $95,000.

The selloff swept across major crypto assets. Ethereum fell nearly 10% to $2,100, Solana dropped 10% to $97, and XRP slid 6% to $1.52.

More than $280 million in positions were liquidated in the past hour, with 24-hour liquidations exceeding $620 million, according to CoinGlass data.

Traditional markets also declined, with the S&P 500 losing 1.4% and the Nasdaq shedding over 2% as risk-off sentiment spread across asset classes.