Just a little more than a month after reaching an all-time high, Bitcoin has erased the more than 30% gain it registered since the start of the year. This decline comes as enthusiasm over the pro-crypto stance of the Trump administration fades, coupled with a recent cooling of high-flying technology stocks that has dampened overall risk appetite.

The dominant cryptocurrency fell below $93,714 on Sunday, pushing its price beneath the closing level seen at the end of last year. That period marked a rally in financial markets following President Donald Trump’s election victory.

Bitcoin had soared to a record $126,251 on October 6. However, it began tumbling just four days later after unexpected comments on tariffs by President Trump sent markets worldwide into a tailspin.
https://www.bloomberg.com/news/articles/2025-11-16/bitcoin-erases-this-year-s-gain-as-crypto-bear-market-deepens