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Trump dump? 😩

Trump dump? 😩

Bitcoin fell below the $60K mark on Friday for the first time since 2024. Now all of the gains seen since Trump's reelection win are gone—and then some.

Andrew Hayward
June 06, 2026

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📝 What you need to know

Bitcoin’s slide over the last week culminated in a dip below the $60,000 mark on Friday for the first time since 2024. And even with the coin trading just above that level as of this writing, Bitcoin has now given up all of its gains since President Donald Trump secured reelection in November 2024—and then some.

Trump’s second win helped propel Bitcoin to new heights, peaking above $126,000 last October. Since then, the top coin has fallen nearly 52%, with this last week’s 18% slide propelled in part by massive ETF outflows, Strategy’s perception-shifting BTC sale, and strong jobs numbers fueling expectations of a rate hike.

As the Clarity Act languishes in the Senate and the Strategic Bitcoin Reserve still in the planning stages, Bitcoin’s decline begs the question: Has Trump’s influence on crypto markets faded?

Bitcoin Has Dumped All of Its Gains Since Trump Was Reelected—And Then Some

Bitcoin surged in the wake of President Trump's reelection, pushing to new highs deep into 2025. Now it's down more than 50% from that peak.

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📰 In the News

Strategy Shares Fall to 4-Month Low as STRC Dips and Bitcoin Sinks Under $60K

Strategy shares tumbled alongside Bitcoin on Friday as the firm's flagship preferred stock also came under pressure.

Congress Gets 7 New Crypto Tax Bills: Here's What's In Them

The crypto tax bills—the first of their kind to be deliberated by congressional leadership—will be discussed at a House hearing on Tuesday.

Zcash Bug Crisis Shows Privacy Cuts Both Ways, Experts Say

Fallout from a bug that enabled undetectable Zcash counterfeiting shows that privacy can sometimes present tradeoffs, experts say.

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📊 Myriad Insight of the Day

SOL next move: Pump to $160 or dump to $40?

$40 71%

29% $160

Why it matters

The crypto market slump is affecting nearly all major assets, and Solana has posted the largest decline of any top 10 asset in the last week, falling 25% in just seven days. Overnight, SOL nearly touched $60, its lowest price registered since late 2023—when it was still bouncing back from its post-FTX collapse crash. Amid the latest decline, predictors see a further drop to $40 more likely than a pump back to $160.

Source: Solana Price: SOL/USD (CoinGecko)

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🕵🏻‍♀️ Editor’s Picks

Meet the Guys Still Clinging To the Terra Luna That Do Kwon Abandoned

Terra Luna Classic was left behind after an epic collapse almost four years ago. But there’s a community of believers who haven’t given up.

Zcash Crash Just Wiped Billions From the Privacy Coin's Market Cap—Can ZEC Recover?

The price of Zcash cratered following the disclosure of a serious vulnerability for the privacy coin. Can ZEC make a comeback anytime soon?

Anthropic Is Helping the NSA Hack China. It Also Wants Everyone to Pause AI

Anthropic embedded engineers at the NSA for offensive cyber ops, then published a report warning AI could soon build itself without humans.

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📚 Watch, Listen & Learn

📹️ WATCH: Massive Zcash Exploit Found by Claude, Extent Unknown, Markets Did NOT Like It

🎧 LISTEN: The Decrypt News roundup with TylerD - June 5th

A major Zcash exploit has rocked the ecosystem and many are worried about what comes next.

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Built on the Beldex Network, BChat aims to solve the weaknesses of relying solely on end-to-end encryption (E2EE) for private messaging.

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