Investors yanked more than $1 billion from spot Bitcoin exchange-traded funds Tuesday, marking the biggest one-day outflow since the cohort’s debut last January.

Bitcoin's price dropped to a three-month low this week, raising concerns despite the U.S. government being the most pro-bitcoin administration in history.

Bitcoin's drop is part of a wider rout in which over $800 billion of nominal value "has been wiped off global cryptocurrency markets in recent weeks, as the enthusiasm that swept the crypto industry after Donald Trump's election victory last year ebbs away," the Financial Times wrote today.

Investors entered the New Year cheerful about the prospects of a business- and crypto-friendly Trump administration. Yet two months into 2025, US stocks have lagged Europe and Chinese stocks, bitcoin is sliding and concerns about inflation are mounting.

Bitcoin tumbled below $84,000 on Wednesday, sliding more than 5% in the past 24 hours, as U.S. President Donald Trump announced plans to impose a 25% tariff on the European Union.