Bitcoin Falls Below $60,000, Down 12.6% Since Trump's 2024 Election Victory

Bitcoin slid below $60,000 this week for the first time since 2024, trading at $60,619 on Friday. The price marks a decline of approximately 12.6% from its closing level of $69,355 on November 5, 2024, Election Day, when the "Trump Trade" rally initially drove expectations of a more crypto-friendly administration.

The top cryptocurrency is now down nearly 52% from its all-time high of $126,080 reached in October 2025. The recent weakness has been attributed to macroeconomic uncertainty and geopolitical risks, alongside a reported capital rotation from crypto into artificial intelligence assets, with more than $4 billion in Bitcoin ETF outflows occurring in less than a month.