Odaily Planet Daily reports: Bitcoin continued its downward trend this week, recently trading at $60,619—approximately 12.6% below the closing price of around $69,355 on November 5, 2024, the day of the U.S. election. It briefly dropped below $60,000 for the first time since 2024, marking a nearly 52% decline from its all-time high. After Trump’s re-election in 2024, Bitcoin rose above $75,000 and reached approximately $109,000 in January 2025; following a peak of $126,080 in October 2025, Bitcoin fell from above $121,000 to $106,000 amid $19 billion in crypto market liquidations. In January 2026, Bitcoin ETFs recorded net outflows exceeding $1.5 billion. Michael Saylor’s Strategy 5 sold 32 Bitcoin in late May, equivalent to approximately $2.5 million. Recently, Trump stated he would not let the crypto industry down; the GENIUS Act was signed into law last year, while the Clarity Act, although approved by committee in May, has yet to complete the legislative process. (Decrypt)
Bitcoin Falls Below Closing Price on 2024 U.S. Election Day
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Summary
Today, Bitcoin’s price dropped to $60,619, a 12.6% decline from its November 5, 2024, closing price of $69,355. It briefly fell below $60,000 for the first time since 2024, marking a nearly 52% drop from its peak. In 2024, Bitcoin price prediction models had forecasted a rise above $75,000 following Trump’s re-election, with an expected target of $109,000 by January 2025. The price peaked at $126,080 in October 2025 before declining to $106,000 during a $190 billion liquidation event. Bitcoin ETFs experienced over $15 billion in net outflows in January 2026. Michael Saylor’s company sold 32 Bitcoin in late May, valued at $2.5 million. Trump recently pledged support for cryptocurrency, while the Clarity Act passed a committee vote in May.
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