The U.S. elections have just sent shockwaves through cryptocurrencies associated with Donald Trump.
After Democratic victories in the November 3 midterm elections, several tokens linked to the U.S. president plunged sharply.
The MELANIA token fell by as much as 11%, TRUMP by around 8%, and WLFI, associated with World Liberty Financial, by nearly 10%, even reaching a new all-time low.
The most telling part? While Bitcoin erased some of its losses and rebounded, these tokens failed to follow suit.
And the situation is even more striking over the long term:
● TRUMP: down about 98% from its all-time high.
● MELANIA: down more than 99%.
● WLFI: down about 85%.
A Democratic victory could also lead to greater congressional scrutiny of crypto activities linked to the Trump family. However, this does not mean that new anti-crypto regulations will automatically be adopted.
Is the market starting to decouple Bitcoin’s value from Donald Trump’s political influence?
#Bitcoin #TRUMP #MELANIA #WLFI #WorldLibertyFinancial #Crypto #Altcoins #MemeCoins #CryptoNews #USPolitics