The post-Trump election victory Bitcoin surge has been wiped out as the cryptocurrency drops below £50,000.

This is the first time in a year that Bitcoin's value has dropped this low.

Bitcoin has fallen nearly 50% from its all-time high of $126,080, equivalent to £93,000.

The record was set just a few months ago in October 2025.

MORE UPDATES TO FOLLOW...

Reacting to the news, the BBC's Simon Jack said: "Ouch. Bitcoin wipes out all post Trump gains."

One user replied: "Looks like this is the bubble finally bursting properly. I’m only surprised it has taken this long."

Bitcoin's value started to suffer amid increased tensions between the US and Venezuela, culminating in the capture of President Nicolas Maduro in Caracas.

Trump's repeated threats to take Greenland were also a contributing factor. 

Experts add that Trump’s nomination of Kevin Warsh for chair of the Federal Reserve also played a part in Bitcoin's collapse.