The price of bitcoin has dramatically crashed amid broader fears across the market.It is the most dramatic crash of Donald Trump’s presidency, after a period that has seen huge surges linked to his commitments to put crypto at the heart of his administration.

"Do not buy the dip yet. A move to the low 80s is on," Standard Chartered analyst Geoff Kendrick said of the latest sell-off.

Bitcoin, the world’s most popular cryptocurrency, was trading at about $89,000 as the U.S. stock market opened. That’s down from about $106,000, which was the price around Trump’s inauguration. The decline in bitcoin and other crypto assets accelerated after a report showed a bigger-than-expected drop in consumer confidence for this month.

Bitcoin has tumbled roughly 20% since Trump's inauguration, as his combative stance shakes investor confidence and concerns about inflation linger.

Bitcoin fell below $90,000 on Tuesday, sinking nearly 20% from its all-time high that was reached just a month ago during Donald Trump’s inauguration. The leading cryptocurrency, which had been rallying since Trump’s re-election in November,

Bitcoin (BTC) dropped below $92,000 on Monday, extending the cryptocurrency market’s downturn by 8% amid US President Donald Trump’s anticipation of US tariffs on Mexico and Canada starting on March 4.

The crypto market kicked off the week on a bearish note, with Bitcoin (BTC) slipping back to the $95K level, dragging major altcoins lower. Ethereum (ETH), Solana (SOL), and XRP fell between 1% and 5%,