On July 18, 2025, President Trump signed the Genius Act, designed to make the U.S. “the crypto-capital of the world.” Shortly thereafter, total world market capitalization of cryptocurrency hit a high of $4.35 trillion on Oct. 5, 2025.
But today, crypto market capitalization has plummeted to exactly half that amount: $2.18 trillion, according to CoinMarketCap data. Bitcoin, the largest of the cryptocurrencies, plunged to under $63,000 on Feb. 5, wiping out all the gains it made since Trump entered office last year. Bitcoin today is also at about half its all-time record of more than $120,000 last October.
