When a new administration arrives bearing gifts for a long-awaited cause, markets sometimes reveal that political will and market reality are not the same currency. Six months into a presidency that openly championed Bitcoin, digital assets have fallen nearly half in value, and American households have quietly moved their money elsewhere. The episode invites a deeper question that outlasts any single administration: whether the barriers to mainstream crypto adoption were ever primarily political, or whether they run deeper into human doubt about what this technology is actually for.
Google News
· Jul 26, 2026
· economy
· 1 min read
Medium
Sourcing: Characterized
Bitcoin boom never materialized despite Trump push, crypto ownership falls
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Politics & Governance
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Bias & Framing
⚖
Article frames Trump's crypto policies as ineffective, emphasizing failed expectations and price declines while downplaying potential long-term factors or alternative explanations.
Bias Direction
center-left
Confidence
MED
Expectation-failure narrative: Sets up premise that 'everyone expected' a boom, then uses failure to materialize as evidence of policy ineffectiveness. Selective focus on negative metrics (48% decline, falling ownership) without contextualizing broader market conditions.
boom never materialized
faces investor doubts
crypto ownership falls
bitcoin prices crash
price rebound may be off the cards
Crypto industry advocates explaining market dynamics beyond policy
Long-term investment thesis supporters
Analysis of broader market conditions (interest rates, macroeconomic factors) affecting crypto independently
Trump administration officials defending policy timeline expectations
Distinction between short-term volatility and policy implementation effects
Geopolitical Impact
🌎
Cryptocurrency market fails to surge despite Trump administration support, indicating limited geopolitical impact on global financial markets and investor confidence in policy-driven asset speculation.
Escalation Risk
low
Confidence
MED
United States
Global cryptocurrency markets
International financial centers
Diminished credibility of Trump administration's crypto policy influence; reduced soft power through failed market expectations; potential shift in investor confidence toward traditional assets and away from policy-dependent speculative markets.
Similar to failed 1980s supply-side economics promises that underperformed relative to expectations, demonstrating gap between policy rhetoric and market reality.
Economic Lens
📈
Despite Trump administration's pro-crypto policies, Bitcoin declined 48% and crypto ownership fell, signaling investor skepticism about policy-driven market gains.
Market Signal
bearish
Confidence
HIGH
Cryptocurrency and Digital Assets
Financial Services
Investment Banking
Retail Investment
Technology
Retail investors who anticipated crypto gains under Trump policies face significant portfolio losses (48% Bitcoin decline). Reduced crypto ownership suggests consumers are withdrawing from digital assets, potentially reallocating to traditional investments like gold or equities.
The disconnect between pro-crypto policy support and actual market performance may prompt policymakers to reassess cryptocurrency regulation strategy. Could lead to more cautious regulatory approaches or demands for stronger market safeguards. May also reduce political capital for aggressive pro-crypto legislation.