Why Bitcoin Erased All Post-Trump Election Gains And What Happens Next
Posted On February 11, 2026
Bitcoin (CRYPTO: BTC) has shed almost 50% of its value from its top last October and plummeted below its November 2024 price.
The $2.7 Billion Liquidation Flush
According to Wintermute, the sell-off in early February triggered more than $2.7 billion in liquidations, marking Bitcoin’s steepest drawdown since 2022.
The move was followed a string of macro catalysts: Kevin Warsh‘s nomination as Federal Reserve chair, weak “Magnificent Seven” earnings, including a 10% drop in Microsoft, and a sharp correction in precious metals.
After several sessions of consolidation, markets rotated decisively into risk-off mode.
Wintermute described the selling pressure as structural:
- A persistent Coinbase (NASDAQ:COIN) discount signaled sustained U.S. spot selling.
- Spot …
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