Bitcoin, Ethereum, XRP and altcoins have posted steep declines since Trump took office in 2025. Here’s a full breakdown of crypto losses. | Credit: CCN.com
* Crypto markets have experienced broad declines in 2025, with losses varying widely across assets, particularly among altcoins and memecoins.
* Leverage and forced liquidations have played a major role in recent volatility, amplifying price moves during both the October flash crash and December sell-offs.
* Macroeconomic conditions, not politics alone, are key drivers, with interest rate expectations and global risk sentiment shaping investor behavior.
* Market uncertainty remains elevated, as traders weigh ongoing macro pressures, leverage dynamics, and shifting risk appetite, keeping crypto prices volatile in the near term.
As of late 2025, a widely shared price summary suggests that major cryptocurrencies have experienced notable declines since U.S. President Donald Trump took office in January 2025.
According to @MaxCrypto, who tracked cryptocurrency performance since his inauguration, Bitcoin (BTC) is down about 18%, Ethereum (ETH) has fallen roughly 10%, and XRP is off about 42% over the same period.
Other tokens have seen steeper losses, with the likes of Solana (SOL) down around 52% and memecoins such as PEPE and APT tumbling further.
Here is the crypto performance overview since Trump took office:
* Bitcoin (BTC): -18%
* Ethereum (ETH): -10%
* XRP: -42%
* Solana (SOL): -52%
* Dogecoin (DOGE): -68%
* Cardano (ADA): -65%
* Chainlink (LINK): -47%
* Avalanche (AVAX): -68%
* Sui (SUI): -71%
* Toncoin (TON): -72%
* $Trump memecoin: -82%
* Pepe (PEPE): -78%
* Aptos (APT): -83%
This chart of cumulative performance reflects a broad downturn in the cryptocurrency sector over this timeframe, though these figures are not official exchange statistics and should be interpreted with caution. Market prices fluctuate widely, and precise percentages can vary depending on data sources and exchange feeds.
Volatile Market Conditions Weigh on Crypto Prices
Current market data from live trackers such as CoinGecko and CoinMarketCap show the broader crypto market remains in a state of volatility. As of the latest trading sessions, Bitcoin is trading around the mid-$80,000 level, with Ethereum near $2,900, both down from recent peaks but still holding significant market value.
Market sentiment is a key driver: macroeconomic uncertainty, interest rate expectations, and shifting investor appetite for risk assets have all contributed to pressure on crypto prices. Reportedly, Bitcoin fell below $86,000 , while XRP and Ethereum also declined in the short term as traders rotated away from riskier digital assets.
What’s Driving the Crypto Market Downturn
Several factors have influenced the broader downturn in digital assets:
* Risk aversion: Across global markets, increased risk aversion has weighed on speculative assets like cryptocurrencies. Analysts have pointed to broader market conditions as contributing to price softness.
* Memecoin and altcoin volatility: Smaller tokens and memecoins, often driven by sentiment rather than fundamentals, tend to show amplified swings. Tokens like $TRUMP, PEPE, and APT have experienced especially sharp drawdowns.
* Macro trends: Higher interest rates, shifting policy expectations, and investor rotation into traditional assets can reduce appetite for crypto risk.
October 10 Flash Crash: Record Liquidations Shake Crypto
The cryptocurrency market experienced one of its most violent sell-offs on Oct. 10-11, when sudden macroeconomic news and elevated leverage triggered massive liquidations across derivatives markets.
Traders suffered one of the largest wipeouts ever recorded, with analysts estimating around $19 billion in leveraged positions liquidated in roughly 24 hours, a record for the industry.
The deleveraging cascade was driven by a combination of geopolitical tensions, risk-off sentiment, and outsized leverage taken by futures and margin traders.
During the flash crash, Bitcoin plunged from north of $122,000 to roughly $104,000 as liquidations intensified, while Ethereum and many altcoins fell by double-digit percentages in a matter of hours.
Market observers characterized the episode as a demonstration of structural fragility in crypto trading mechanisms, where forced margin closes and algorithmic responses can compound declines in thin liquidity conditions.
December 15 Crypto Liquidations and Market Stress
On Dec. 15, 2025, the cryptocurrency markets experienced a fresh bout of volatility marked by substantial forced liquidations and sharp price declines across major digital assets. Bitcoin fell below key levels near $86,000 as risk-off sentiment intensified, dragging Ethereum, XRP, and other large-cap tokens lower. Analysts pointed to a combination of broader macro pressures and market positioning that triggered cascading sell-offs.
Data from leading analytics platforms showed that hundreds of millions of dollars in leveraged positions were liquidated within a 24-hour window. One report estimated that over $570 million to nearly $600 million in crypto long positions were wiped out, with Bitcoin and Ethereum contributing a large share of the losses.
This liquidation event was further highlighted by periods of intense futures activity in which more than $100 million worth of contracts were forcibly closed in a single hour, illustrating how thin liquidity and heavy leverage can amplify short-term swings. These forced closures added downward pressure to spot markets by triggering automatic sell orders on major exchanges.
Market participants linked these moves not just to technical triggers, but also to macro concerns, including shifting expectations around global interest rates and tightening financial conditions, which have dampened appetite for risk assets broadly. The impact was felt not only in crypto prices but also in correlated assets, such as major crypto-focused equities.
Broader Market and Macroeconomic Forces at Play
Cryptocurrency price action in 2025 has been heavily shaped by macro economic shifts and risk sentiment, independent of political leadership. Recent market reports show that Bitcoin and Ethereum have slipped sharply during periods of forced liquidations, where leveraged positions unwound rapidly and intensified selling pressure across exchanges, erasing hundreds of millions in value in a single session.
In addition, changing expectations around interest rates serve as a significant driver of crypto volatility. Notably, reduced prospects for near-term Federal Reserve rate cuts have weighed on speculative assets , contributing to crypto’s recent downturn.
These kinds of macro factors, liquidity flows, monetary policy shifts, and global risk appetite, are widely recognized as core determinants of asset prices across equity, bond, and digital asset markets alike.
Caution Amid Elevated Volatility
Market observers note that current cryptocurrency price movements reflect an environment of elevated volatility and heightened sensitivity to macroeconomic and technical factors. Rapid price swings driven by leverage, derivatives activity, and sudden shifts in sentiment have increased the frequency of sharp intraday moves across both major cryptocurrencies and smaller tokens.
During such periods, price action can become less reflective of underlying network activity or longer-term trends, as forced liquidations and algorithmic trading amplify short-term fluctuations. As a result, market conditions remain uneven, with abrupt reversals possible as liquidity, positioning, and risk appetite continue to adjust.
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