Goodbye to the Trump effect: bitcoin returns to pre-election levels in the US.

The debacle of technology stocks, risk aversion, and outflows from retail investors destroy 1.9 trillion in market value. The crypto revolution promised by the Republican fades away.

Trump made many promises to the industry before the elections, while huge flows of money left crypto companies to finance his campaign. He started his own crypto project, aware that the closer he was to the sector, the better for winning votes and resources. When he proclaimed victory in the elections, there were fireworks in the market: bitcoin surged by 10% and a month later reached 100,000 dollars for the first time. The sector had no doubts: with the Republican, a golden age for cryptos would begin.

But more than a year later, the crypto revolution promised by Trump has rather ended in regression and the dream of consolidating bitcoin as a mainstream asset has remained an illusion. "It has been exposed as a speculative asset, failing to establish itself as a hedge against devaluation similar to that of precious metals," says Manuel Pinto, market analyst. In an environment of extreme uncertainty and with the fear and greed index marking extreme fear in the market, digital assets succumb. Only a part of the market survives this involution: that of stablecoins, which thanks to their stability and utility even as a form of payment, have attracted the attention of large financial institutions, now immersed in a race to issue these assets.$BTC