The cryptocurrency market has wiped out most of the gains achieved during the strong growth phase of 2024-2025, which began after the 2024 U.S. presidential election. As of now, the market has lost approximately 40% of its value from the peak recorded in October 2025.
Total3 Market Cap, a metric measuring the total market capitalization of all cryptocurrencies (excluding Bitcoin and Ether), increased by over 91% immediately after the U.S. presidential election on November 5, 2024. This index reached a high of $1.16 trillion in December 2024, compared to $600 billion before this growth surge.
Total Market Capitalization from September 2024 to February 2026 | Source: TradingViewHowever, the market then declined to around $900 billion, with continuous fluctuations until January 2025. On January 18, the Total3 index temporarily recovered to $1.13 trillion, just two days before Donald Trump officially took office as U.S. President.
Throughout 2025, the cryptocurrency market mainly moved sideways. However, in October 2025, Total3 Market Cap hit a new high of $1.19 trillion—just a few days before a historic crash that broke the long-term upward trend of the entire industry.
Currently, Total3 Market Cap has fallen to about $713 billion, equivalent to the level on November 10, 2024. The market shows no signs of a sustainable recovery.
Major cryptocurrencies also suffered heavy losses. Bitcoin (BTC) price declined over 50% from its peak to its trough during the downturn, reaching a low of $60,000 before a slight recovery to around $68,000. Similarly, Ether (ETH) also dropped sharply by 60% from its all-time high of nearly $5,000 in August 2025.
Ether price peaked in August 2025 before sharply declining to its current level | Source: TradingViewInvestor sentiment is currently at its lowest in years. The Fear and Greed Index, a market sentiment indicator, is now at 14, indicating an “extreme fear” state according to data from CoinMarketCap. Notably, this index dropped to 5 on February 5, 2026—its lowest level ever recorded in the index’s history, based on available data.
The intense market volatility and pervasive negative sentiment pose significant challenges for investors and the prospects for recovery in the cryptocurrency sector in the near future.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ran Neuner Questions Bitcoin’s Identity, Crypto Narrative Shifts
Bitcoin’s purpose and value proposition are once again under the microscope as veteran crypto commentator Ran Neuner weighs the asset’s enduring narrative. In a recent Cointelegraph interview, Neuner candidly questions Bitcoin’s core identity, admitting he struggles to articulate a clear reason
CryptoBreaking10m ago
Bitcoin ETF Assets Fall to $84.8B as Institutional Outflows Weigh on Crypto Funds
_Institutional outflows and macro uncertainty drove ETF declines, with Bitcoin holding a stronger positioning than Ethereum._
Bitcoin spot exchange-traded funds reversed a recent upswing as investors pulled $296 million in net outflows for the week ending March 27, according to SoSoValue data.
LiveBTCNews25m ago
Senators Reveal 'Mined in America' Bill to Boost Bitcoin Mining, Support Trump's Reserve
In brief
U.S. Sens. Bill Cassidy (R-LA) and Cynthia Lummis (R-WY) introduced legislation on Monday to support Bitcoin miners.
The U.S. Commerce Department would be able to certify that entities are “Mined in America,” giving them access to government support.
The initiative is aimed at
Decrypt30m ago
Base58 Labs’ BASIS 2026 Blueprint Forges a New Standard for BTC, ETH, SOL & PAXG
[PRESS RELEASE – London, UK, March 17th, 2026]
New roadmap positions BASIS as an institutional-grade digital asset management platform built for macro volatility, tokenized safe-haven demand, and frictionless Web3 onboarding.
Base58 Labs today unveiled the BASIS 2026 Technical Blueprint &
CryptoPotato37m ago
