The global cryptocurrency market cap, which recently traded around $2.43 trillion, has fallen further to $2.41 trillion, down 0.81% in the past 24 hours. On November 5, 2024, the US elected Donald Trump as its 47th president.
In the weeks that followed, the market capitalization rose from nearly $2.29 trillion to $3.71 trillion at the end of 2024. In October 2025, it peaked at $4.20 trillion. Today, however, the market has fallen to almost half of that all-time high.
Co-founder of Coin Bureau on the current crisis in the crypto market
Seeing this strain on the market, Nic Puckrin, CEO and co-founder of Coin Bureau, took to X via his new post (now deleted) and noted:
The post-election crypto honeymoon is officially over.
In addition, Puckrin also reiterated the recent comment from Barclays, a British multinational universal bank:
Global crypto trading activity has fallen to levels not seen since late 2023.
Additionally, the Coin Bureau co-founder shed light on Coinbase’s trading volume. Puckrin highlighted how Coinbase’s trading volume dropped to $1.54 billion by the end of Q1 2026, a 30% decline from Q4 2025. Needless to say, CoinGecko’s charts further confirmed this sentiment.
Puckrin noted the same about this and emphasized:
March was the lowest month since September 2024.
From ‘extreme greed’ to ‘extreme fear’
Further confirming this bearish sentiment was the Crypto Fear and Greed Index, which was still stuck in the ‘Extreme Fear’ zone at 12 at the time of publication.
After the election, the Crypto Fear and Greed Index even shot up to the 90 mark, indicating “extreme greed” sentiment.
Although the index remained volatile, it continued to reflect greed for a time. However, since mid-January 2026, the Crypto Fear and Greed Index has only fluctuated between the ‘Fear’ and ‘Extreme Fear’ zones.
Even during the escalating tensions between the US and Iran, Bitcoin and Ethereum traded in the ‘Extreme Fear’. zone. But from a broader perspective, the overall crypto market, beyond Bitcoin, compared to the S&P 500, gold and other traditional assets, remained resilient despite geopolitical headwinds.
ETF and social sentiment analysis
Looking ahead, the Bitcoin ETF Net Daily Inflows & Outflows further confirmed this sentiment, recording more frequent and consistent outflows in 2026. On the contrary, the influx was smaller and less aggressive.
That said, the chart clearly shows that 2024 was a loud year with extreme peaks on both sides, and 2025 was uncertain as there were mostly balanced flows. While 2026 was quiet with consistent outflows. Furthermore, Bitcoin’s social volume, along with some altcoins, has also declined between 2024 and 2026.
Finally, Bitcoin’s price action, which was trading at $67,000 before the election, peaked at an all-time high of $124,700. However, at the time of writing, the leading cryptocurrency was trading at $70,883.15.
All of this together suggests that Puckrin may be right, but given the increased volatility, nothing has been confirmed yet.
Final summary
- Executives expect the post-election ‘crypto honeymoon phase’ to be over, with global crypto market capitalization seeing a doubling from previous highs.
- The current Bitcoin price, Fear and Greed Index, and social volume metrics confirm Puckrin’s sentiment, but hope remains.