Bitcoin Price Falls to 15-Month Low Amid Market Volatility

"...despite US president Donald Trump's personal and public support of cryptocurrency..."

"...Investors were encouraged by Trump's involvement in the sector and his outspoken support for cryptocurrencies, as well as promises to ease legislation on the industry..."

"...Among Trump's first actions upon re-entering the White House in January 2025 was an executive order aimed at making the US the "crypto capital of the planet"..."

"...In his first year back in office, Trump launched a personal brand of cryptocurrency, with the bulk of profits going into his own companies..."

"...And he continued his involvement with World Liberty Financial, an investment vehicle for other crypto assets that is owned by the Trump family..."

"...During the Trump administration so far, he has signed a law to support federal backing of cryptocurrency, dissolved a Department of Justice team focused on enforcement of crypto regulation, and the Securities and Exchange Commission has dropped crypto-related enforcement work and investigations..."

"...Democrats on the Senate Judiciary Committee in November called out Trump's "pro-crypto agenda", noting that the president had amassed crypto holdings worth more than $11bn and gained personal income of $800mn from crypto transactions since taking office..."

"...Bitcoin prices tend to be volatile, but analysts with Deutsche Bank said in a note on Wednesday that the latest drop was "triggered by" Trump's nomination of Kevin Warsh as the new chair of the Federal Reserve..."

"...Bitcoin prices have been trending down for the last four months, Deutsche noted, and there has been growing negative sentiment around cryptocurrency more broadly..."

"..."This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing," it said..."

"...While Deutsche does not expect crypto to disappear, it also did not predict Bitcoin would return to Trump-driven highs..."

"...The bank said the digital token was moving from being a "purely speculative asset" into a more realistic phase as an asset that "needs to find its specific role"..."