The promise, the hype, the unwind
CryptoPotato frames the last stretch of US crypto policy momentum as a bait-and-switch. Donald Trump, dubbed the “crypto president,” ran on a set of big assurances after his 2024 win. CryptoPotato cites promises like a US “global hub” for crypto, an insistence that remaining Bitcoin mining happen in the US, and a proposed national BTC strategy reserve.
It also points to optics and statements that helped fuel expectations. CryptoPotato says Trump attended the largest Bitcoin conference in the US, praised Bitcoin, and even claimed he would personally fire then-SEC Chair Gary Gensler, while noting that he “can’t really.” CryptoPotato adds that Trump reportedly paid for a burger in New York with Bitcoin.
The desk takeaway is simple. Those signals mattered for sentiment. CryptoPotato now argues sentiment has flipped, and price action has followed.
“Crypto prices since Trump took office”
CryptoPotato’s core claim is the drawdown since Trump returned to the White House on Inauguration Day. It provides headline numbers for major assets. In its write-up, it says Bitcoin hit about $59,000 on Friday, described as its lowest level since before the election.
Below are the figures CryptoPotato lists for the period after Trump took office.
| Asset | Dump since Trump took office (CryptoPotato) |
|---|---|
| BTC | -44% |
| ETH | -49% |
| XRP | -68% |
CryptoPotato also includes deeper declines for additional tokens. SOL is shown at -77%, DOGE at -79%, AVAX at -82%, and ADA at -85%. It lists SUI at -86%, ENA at -92%, APT at -93%, and meme-adjacent Trump-branded tokens at -97.7% (TRUMP) and -99.5% (MELANIA).
The article does not provide methodology details like start and end timestamps or whether percentages come from spot prices on specific dates. So treat the numbers as reported by CryptoPotato, not as a verified dataset.
Liquidations and the “it went down” phase
CryptoPotato doesn’t present a nuanced causal chain. It does offer one proximate trigger. It says a “single-largest liquidation day in early October” was the beginning, with Bitcoin continuing to drop afterward.
From there, CryptoPotato states that “most crypto assets have done the same,” describing the move as “more painful” across the broader market.
There is a practical implication for readers. Even if the political narrative was bullish at first, the market still priced in volatility fast. Liquidation cascades are not a policy outcome. They are market mechanics. The policy headline may attract attention, but leverage and positioning can still do the damage.
What changed in the market story
CryptoPotato’s narrative arc is a familiar one. It says the months after Trump’s landslide victory saw “price pumps” and even new all-time highs by October for BTC, ETH, XRP, and many alts.
Then it points to two destabilizing elements. First, it mentions the “highly controversial launch” of two meme coins linked to Trump and his wife, launched days before inauguration, and notes that it will not “go down that rabbit hole.” Second, it references a “Liberation Day fiasco” and a mid-year drop.
That matters because the story isn’t just about macro sentiment. CryptoPotato implies the market got multiple reasons to reprice risk quickly, from event-driven token launches to episodic selloffs.
Deadlines and what to watch next
CryptoPotato doesn’t name a specific regulatory schedule in the text provided. Its emphasis stays on promises and price outcomes since Inauguration Day.
Still, readers who track regulation will care about what CryptoPotato frames as the gap between political claims and implementable authority. It highlights a specific example by pointing out Trump’s “can’t really” line about firing the SEC chair, implying limits on what can be changed on command.
If you want to follow the logic rather than the vibes, the watchlist is boring: enforcement posture, SEC and other agency actions, and the timing of actual policy work. CryptoPotato’s numbers show markets can react sharply even when the headline is years away from implementation.