On April 29, according to data from CoinGecko, today marks exactly 100 days since Donald Trump officially took the oath of office for his second term. During this period, the total market capitalization of the entire cryptocurrency market has sharply decreased, from 3.621 trillion USD on the day Mr. Trump took office (January 20) to 3.084 trillion USD. Thus, the cryptocurrency market has 'evaporated' about 537 billion USD in market capitalization just 100 days into Mr. Trump's new term.
According to information from the HTX market, Bitcoin (BTC) – the largest cryptocurrency in the world – reached a record price of 109,588 USD on the day Mr. Trump was inaugurated. However, as of now, the price of Bitcoin has dropped to 95,230 USD, equivalent to a correction of more than 13%. Ethereum (ETH), the second largest cryptocurrency by market capitalization, also recorded a significant decline. The price of Ethereum reached 3,453 USD on January 20 but is now only 1,801 USD, equivalent to a drop of more than 47.8%.
The cryptocurrency market losing more than half a trillion USD in market capitalization over 100 days reflects the unstable sentiment of investors amid the new policies expected from the second Trump administration. Additionally, the strong volatility of digital assets like Bitcoin and Ethereum indicates an increasing level of risk in this market. Analysts suggest that the sharp correction after setting a historical peak is a common occurrence in the cryptocurrency market, especially during major political upheavals like the current situation.
