Even though US President Donald Trump has publicly and privately supported cryptocurrency, the price of Bitcoin has dropped to its lowest level in 15 months. The price of one Bitcoin is now $66,000 (£48,700), its lowest level since October 2024. The price has dropped 24% since the beginning of this year.
The decrease came after months of rising Bitcoin values, which reached an all-time high of $122,200 in October. Trump’s engagement in the market and open support for cryptocurrencies, as well as his vows to make laws easier for the industry, made investors feel better. One of Trump’s first moves when he returned to the White House in January 2025 was to sign an executive order that would make the US the “crypto capital of the planet.
In his first year back in office, Trump launched his own cryptocurrency brand, and most of the proceeds went to his own businesses. He also remained involved with World Liberty Financial, which is owned by the Trump family and offers investors the option to invest in other cryptocurrencies.
So far, under the Trump administration, he has signed a law to support federal backing of cryptocurrency, disbanded a Department of Justice unit responsible for enforcing crypto regulations, and the Securities and Exchange Commission has stopped conducting investigations and enforcement work related to cryptocurrencies.
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