The post-Trump election victory Bitcoin surge has been wiped out as the cryptocurrency drops below £50,000.
This is the first time in a year that Bitcoin’s value has dropped this low.
Bitcoin has fallen nearly 50% from its all-time high of $126,080, equivalent to £93,000.
The record was set just a few months ago in October 2025.
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Reacting to the news, the BBC‘s Simon Jack said: « Ouch. Bitcoin wipes out all post Trump gains. »
One user replied: « Looks like this is the bubble finally bursting properly. I’m only surprised it has taken this long. »
Bitcoin’s value started to suffer amid increased tensions between the US and Venezuela, culminating in the capture of President Nicolas Maduro in Caracas.
Trump’s repeated threats to take Greenland were also a contributing factor.
Experts add that Trump’s nomination of Kevin Warsh for chair of the Federal Reserve also played a part in Bitcoin’s collapse.
Deutsche Bank analyst Marion Laboure said Wednesday: “This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing. »
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