The recent US election result seems to have changed the trajectory of the traditional and crypto markets. The Bitcoin price reclaimed $80,000, while gold surged above $4,000 and silver above $51. In the meantime, the tokens associated with President Trump moved in the opposite direction, with TRUMP, WLFI and MELINA facing sharp losses. Additionally, Trump’s media is reportedly set to add to the selling pressure.
Political uncertainty, weakening token prices and questions surrounding Trump Media’s Bitcoin holdings are converging. The focus now shifts to whether this is a temporary post-election reaction or the beginning of a broader reassessment of Trump-linked crypto assets.
Trump-Linked Tokens Face Heavy Selling
The election outcome has coincided with a sharp sell-off across several cryptos associated with the Trump family. Memecoins TRUMP, WLFI & MELANIA are recording significant losses, standing out against the broder market. TRUMP’s price dropped by nearly 21% to $1.25, MELANIA by 13% to $0.063, and WLFI by nearly 11% to $0.047.
Besides, the market capitalisation of politically themed memecoins declined more than 16% to nearly $477 million, while trading volume surged 123% to $437 million. TRUMP also showed signs of increasing bearish positioning in the derivatives market, with its futures funding rate on Hyperliquid turning negative. The divergence between Trump-associated cryptos and the broader market is particularly notable.
Is Trump-Media Selling Bitcoin?
Adding to uncertainty around Trump’s crypto-linked holdings, Trump Media & Technology Group has transferred nearly 4,259 BTC, worth about $342 to $344 million, to Crypto.com. According to Arkham Intelligence, the transfer xsavncrt in two transactions involved 2,140 BTC and 2,119 BTC, both originating from wallets labelled as collateral for the company’s convertible notes.
The timing of the transaction has attracted attention, particularly as Trump Media approaches a significant financial obligation later this month. According to its November 02 securities filing, holders of the company’s convertible notes can demand cash repayment on November 30, 2026. If all eligible holders exercise this option, the company could face a repayment obligation of approximately $1 billion. This puts the latest Bitcoin movement into a more significant financial context, as Trump Media disclosed that this BTC were serving as collateral for its convertible notes.
What Should Investors Watch Next?
While the recent sell-off has weakened sentiment, several factors could determine whether the correction deepens or the tokens attempt a recovery.
- TRUMP price recovery, WLFI’s ability to recover and selling pressure over MELANIA crypto
- Any clarification regarding the 4,259 BTC transfer to Crypto.com could help establish whether the movement was related to custody management, collateral arrangements or a broader treasury decision
- The November 30 deadline is pretty important, as if holders exercise their repayment option on Trump Media’s convertible notes, it could have implications for the company’s liquidity and digital asset strategy.
- Besides, the new political balance in Washington could influence expectations surrounding crypto legislation and regulation policy
For now, the divergence between Trump-linked cryptos and the wider crypto market suggests that political association alone may not be enough to sustain investor confidence.
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