Bitcoin Price Falls Below Pre-Trump Second Term Level, Now Trading Under $67,000
February 6, 2026 – The Associated Press for PBS NewsHour
Bitcoin, the original cryptocurrency often described as "digital gold," has experienced a significant decline, slipping below its value prior to former President Donald Trump’s second term election. As of Thursday afternoon, bitcoin was trading around $66,301, marking an 11% drop on the day and continuing a downward trend that has persisted over several months.
Sharp Decline from Peak Levels
Bitcoin reached an all-time high of $126,210.50 on October 6, 2025, but has since lost nearly half of its value. The current price dip positions bitcoin below the levels seen in November 2024, just before Trump’s second term began. During that time, cryptocurrency prices surged on investor optimism about a potential pro-crypto administration in Washington, D.C. However, the recent sell-off has erased much of these gains.
Factors Behind the Sell-Off
Investors are retreating from speculative assets like gold, silver, and cryptocurrencies amid growing concerns about cryptocurrency regulations in the United States. Although former President Trump supported crypto companies during his presidency, uncertainty remains about the future regulatory landscape. This week, the White House convened a meeting with banks and crypto firms, attempting to find common ground on legislation regulating stablecoins—digital currencies pegged to traditional assets.
A particular point of contention lies in whether crypto or stablecoin accounts should be allowed to pay dividends or yields to depositors—something conventional banks oppose, fearing it might divert funds away from the traditional banking system. Current indications suggest that the proposed bill is unlikely to advance in Congress.
Investor Withdrawals and Impact on Crypto Firms
Spot bitcoin exchange-traded funds (ETFs), which allow investors to gain bitcoin exposure without directly owning it, have seen substantial outflows. From November 2025 through January 2026, approximately $5.7 billion was withdrawn from these ETFs, according to Morningstar Direct data.
Cryptocurrency companies have also suffered notable losses amid the market downturn. Coinbase Global’s stock declined by 9.1%, Robinhood Markets fell 8.1%, and bitcoin mining company Riot Platforms lost 10% of its value. Strategy, formerly MicroStrategy and known for its extensive bitcoin treasury holdings, tumbled 13%. The company holds 713,502 bitcoins, purchased at an average price above $76,000, meaning its bitcoin assets are currently underwater, with a market value of about $47.8 billion compared to the $54.3 billion initially paid.
Trump-Related Crypto Ventures Hit Hard
Several cryptocurrency ventures linked to the Trump family have experienced substantial declines. American Bitcoin, in which Trump’s sons Eric and Donald Jr. have stakes, has dropped over 80% since early October 2025, falling 6.6% on Thursday alone. Other projects connected to Trump include the World Liberty Financial token ($WLFI), whose market value has nearly halved from over $6 billion in mid-September to approximately $3.25 billion, and a meme coin named $TRUMP, which has fallen from $45 ahead of Trump’s latest inauguration to about $3.93. —
The ongoing volatility in the bitcoin market and the broader cryptocurrency ecosystem reflects a complex mixture of investor sentiment, regulatory uncertainty, and political developments. The future trajectory of cryptocurrencies remains closely intertwined with legislative actions and political dynamics in Washington.
For more information and updates on cryptocurrency markets, regulatory changes, and economic impacts, visit PBS NewsHour’s economy section.
Photo Caption: Representations of cryptocurrency bitcoin seen in an illustration from Paris, France, March 2024. (Photo illustration by Benoit Tessier/Reuters)
Support trusted journalism and civil dialogue. Donate now to PBS NewsHour.