Bitcoin sheds nearly all Trump election gains in plummet under $80K

Bitcoin ( $0.00 ) has fallen under $80,000 for the first time since November amid mounting macroeconomic uncertainty over US President Donald Trump’s proposed tariffs.

On Feb. 27, Bitcoin ( $0.00 ) plummeted to $79,752, according to TradingView data. The price 2.65% decline over the past hour led to $80.28 million in long positions liquidated, per CoinGlass data.

Bitcoin ( $0.00 ) last traded at this level on Nov. 11, just days after Trump was elected US President, amid optimism that his pro-crypto policies would lead a Bitcoin ( $0.00 ) rally in 2025.

Many observers point to macroeconomic uncertainty and concerns over US President Donald Trump’s proposed tariffs as key reasons for Bitcoin ( $0.00 ) ’s and the broader crypto market’s decline.

Since Trump’s inauguration on Jan. 20, when Bitcoin ( $0.00 ) hit an all-time high of $109,000, the asset has dropped nearly 26%.

This is a developing story, and further information will be added as it becomes available.