Bitcoin has had quite a roller coaster run since Trump was elected last November. Exactly one year ago, bitcoin was valued at $89,875.56 on Coindesk’s tracker. It was at $106,188.14 on January 20, when Trump took office for this second term. Trump launched his own crypto, held a crypto summit, and had legislation passed that gave legitimacy & bailout protection to the industry.

Bitcoin peaked at $124,714.85 on October 4, 2025.

Less than a week later, on October 10, President Trump announced an additional 100% tariff on China, on top of the 30% already in place, to be effective on November 1. Bitcoin has been dropping ever since. This, and the reduced likelihood of a December Fed interest rate cut has sent bitcoin plunging. Here’s a recent screenshot of the Coindesk bitcoin ticker over the last year.

Bitcoin now faces a key $94-92K support test, with any dip below that level threatening a deeper fall to possibly $70K (or worse) amid massive liquidity outflows. For some reason, the crypto industry has chosen this price level ($92-94K) as a key point in its development. It may take some time, since there is such strong institutional support at $92-94K, but when this level is breached, apparently there isn’t much institutional support below this level until ~$70-74K. If that happens, all but the biggest crypto whales in bitcoin will be wiped out.

The future existence of crypto is being tested right now. Crypto whales are burning cash (while secretly selling bitcoin) to keep bitcoin afloat, as small investors are being liquidated, while new investors are too few. The entire crypto market is in ‘Extreme Fear’ according to industry analysts. Crypto whale Elon Musk stated less than a week ago that bitcoin & AI were the way out of the US $38T debt. In fact, bitcoin is only the latest manifestation of a problem that has created such an unpayable mountain of debt.

………<><><><><><><>……..