XPost: alt.fan.rush-limbaugh, alt.politics   
   From: super70s@super70s.invalid   
      
   Bitcoin falls to lowest level since Trump took office   
   Feb. 5, 2026   
   By Kali Hays, Technology reporter   
   BBC.com   
      
   The price of Bitcoin has fallen to its lowest level in 15 months   
   despite US president Donald Trump's personal and public support of   
   cryptocurrency.   
      
   A single Bitcoin is now worth $66,000 (48,700 pounds), its lowest level   
   since October of 2024, with the price down 24% since the start of this   
   year.   
      
   The drop followed months of surging Bitcoin prices, which saw the   
   cryptocurrency hit an all-time high of $122,200 in October.   
      
   Investors were encouraged by Trump's involvement in the sector and his   
   outspoken support for cryptocurrencies, as well as promises to ease   
   legislation on the industry.   
      
   Among Trump's first actions upon re-entering the White House in January   
   2025 was an executive order aimed at making the US the "crypto capital   
   of the planet".   
      
   In his first year back in office, Trump launched a personal brand of   
   cryptocurrency, with the bulk of profits going into his own companies.   
   And he continued his involvement with World Liberty Financial, an   
   investment vehicle for other crypto assets that is owned by the Trump   
   family.   
      
   During the Trump administration so far, he has signed a law to support   
   federal backing of cryptocurrency, dissolved a Department of Justice   
   team focused on enforcement of crypto regulation, and the Securities   
   and Exchange Commission has dropped crypto-related enforcement work and   
   investigations.   
      
   Democrats on the Senate Judiciary Committee in November called out   
   Trump's "pro-crypto agenda", noting that the president had amassed   
   crypto holdings worth more than $11bn and gained personal income of   
   $800mn from crypto transactions since taking office.   
      
   With Thursday's drop, Bitcoin prices are down 32% in the last 12 months   
   and are trending toward prices seen in early 2024 and 2021.   
      
   Bitcoin is the world's largest and generally most well-known   
   cryptocurrency, a form of digital-only money that is not controlled by   
   a centralised financial institution.   
      
   Why has Bitcoin lost value?   
      
   Bitcoin prices tend to be volatile, but analysts with Deutsche Bank   
   said in a note on Wednesday that the latest drop was "triggered by"   
   Trump's nomination of Kevin Warsh, as the new chair of the Federal   
   Reserve. Some believe he will take a more "hawkish" approach, keeping   
   interest rates higher, whereas looser monetary policy tends to support   
   investment in assets such as crypto currencies.   
      
   Bitcoin prices have been trending down for the last four months,   
   Deutsche noted, and there has been growing negative sentiment around   
   cryptocurrency more broadly.   
      
   "This steady selling in our view signals that traditional investors are   
   losing interest, and overall pessimism about crypto is growing," it   
   said.   
      
   While Deutsche does not expect crypto to disappear, it also did not   
   predict Bitcoin would return to Trump-driven highs.   
      
   The bank said the digital token was moving from being a "purely   
   speculative asset" into a more realistic phase as an asset that "needs   
   to find its specific role".   
      
   William Barhydt, chief executive of Abra Capital Management, an   
   investment firm focused on crypto assets, agreed that cryptocurrency is   
   maturing, but he expects prices to rebound.   
      
   "I wouldn't say that it has to rebound, but I can't see how it   
   doesn't," Barhydt said, noting that this is not the first time Bitcoin   
   has seen significant swings in value.   
      
   "The only way it doesn't is if we end up in some kind of war," Barhydt added.   
      
   Other popular cryptocurrencies are Ethereum and Solana. Their prices   
   have both dropped roughly 37% so far in 2026.   
      
   According to CoinGecko, which tracks the performance of thousands of   
   cryptocurrencies, the market has lost over $1 trillion in value in the   
   last month alone and $2 trillion in value since the market peaked in   
   October.   
      
   Stifel, a US-based investment and research firm, said in a note to   
   investors that Bitcoin prices may drop as low as $38,000. The firm   
   pointed to a new trend of cryptocurrency more closely following the   
   prices of the US Dollar.   
      
   Last week, the dollar dropped to its lowest point in four years.   
      
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