Cryptocurrency Market Pullback Since Trump’s Election

Contrary to expectations, the cryptocurrency market has pulled back since Donald Trump won the election to become the current US president.

Data from TradingView shows that cryptocurrencies and US stocks have faced a downturn, while Asian stocks have rallied.

> Tradeview data shows that since Trump was elected as the US President:
>
> – Hong Kong Hang Seng Index: +17%
> – China Shanghai Composite Index: +3.27%
> – S&P 500: −4.26%
> – Nasdaq: −6.1%
> – BTC: −15.6%
> – ETH: −36.5%
>
>
> — Wu Blockchain (@WuBlockchain) March 25, 2025

Market Performance Overview Since US Elections

Famous journalist Colin Wu pointed out the performance of assets in his latest post on X, showcasing how top Asian stocks gained while US stocks and cryptocurrencies lagged.

According to his post, the Hong Kong Hang Seng Index increased by 17%, while the China Shanghai Composite Index rose by 3.27%.

Major US stocks and top cryptocurrencies recorded losses during this period:

• S&P 500: −4.26%
• Nasdaq: −6.1%
• BTC: −15.6%
• ETH: −36.5%
• Solana (SOL) and Dogecoin (DOGE) also faced double-digit percentage drops.

Related: China vs. Trump Tariffs: Global Markets Shaken, Crypto Beckons

Is the Crypto Market Struggling Under a Pro-Crypto President?

This market response is surprising, especially given Trump’s vocal support for the cryptocurrency sector during his campaign.

President Trump has largely followed through with his campaign promises regarding the crypto industry and the US stock market. However, his approach has faced criticism, particularly from international stakeholders, some of whom are countering his moves.

Analyst Perspectives on Current Market Trends

Analysts have cautioned against making hasty conclusions. They suggest that macroeconomic factors and overall market sentiment may be impacting these short-term trends.

Some believe the initial excitement following Trump’s election may be shifting to a more cautious “wait-and-see” attitude as investors consider the effects of his policies. The newly formed crypto council has yet to offer revised regulations, and the SEC has not concluded several pending cases.

Related: China Stocks Crash 7% While US Markets Soar: Crypto Implications

Prospects may improve for crypto and US stocks, but the current sentiment appears to favor their Asian competitors.

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