The crypto market experienced a significant downturn, shedding $182 billion in a single day as Bitcoin fell 6.2% to $92,446.38, moving further from the $100,000 mark. Other major cryptocurrencies also declined, with Ether down 4.2% and Solana's token dropping 8.9%. Despite this drop, Bitcoin has surged over 30% since the U.S. presidential election on November 5, fueled by optimism surrounding Donald Trump's pro-crypto policies and the anticipated resignation of SEC Chair Gary Gensler on January 20, coinciding with Trump's inauguration.