Bitcoin plunge continues, erasing gains since Trump’s election | Crypto News
Bitcoin Value Plummets Nearly 20% in 2026
Published Feb. 5, 2026
Bitcoin, the world’s leading cryptocurrency, has experienced a significant decline in value, dropping nearly 20% since the beginning of 2026. The digital currency fell below $71,000, continuing a troubling downward trend that began in mid-January.
On Thursday, Bitcoin’s value fell more than 7%, exacerbating a week of losses that have erased all gains made since the re-election of President Donald Trump in 2024. As of 04:30 GMT, Bitcoin was trading at approximately $70,900.
This latest decline follows a period of explosive growth for Bitcoin, which first crossed the $100,000 mark in December 2024 and again reached that level in February and May of 2025. However, the asset has faced a persistent decline since reaching an all-time high of over $127,000 in October.
Bitcoin’s soaring values were partly fueled by optimism regarding regulatory policies following President Trump’s re-election, during which he proposed a more lenient approach to digital asset regulation amid years of strict oversight. Additionally, Trump announced plans to establish the U.S. as a global hub for cryptocurrency, launching his own firm, World Liberty Financial, in partnership with his sons.
However, momentum has faltered as a proposed regulatory bill backed by Trump has stalled in the Senate due to disagreements between banking representatives and the cryptocurrency sector.
Adding to the scrutiny, U.S. Congressman Ro Khanna announced on Wednesday that he would investigate World Liberty Financial following a report by The Wall Street Journal. The report detailed a $500 million agreement for an Abu Dhabi official to acquire a 49% stake in the cryptocurrency venture.
Elsewhere in the markets, equities and commodities also faced losses. Silver prices dropped by as much as 16%, and major stock indexes in Hong Kong and Japan fell approximately 1.3% and 0.7%, respectively.
