Bitcoin Plunges Over 10%, Hits New Low Since Trump's Election! Should You Buy the Dip or Run for Cover?

TradingKey - Bitcoin has plummeted over 10% today to post-election low, but BitMEX co-founder sees buying opportunity in the dip.

On Monday, global financial markets suffered sharp losses, with equities, gold, and oil all declining. Bitcoin was no exception, falling more than 10%. As of press time, Bitcoin (BTC) had dropped below $75,000, reaching a low of $74,508—the lowest level since November 6th, when Donald Trump was elected   the 47th President of the United States.

Bitcoin Price Trend Chart, Source: TradingView.

BitMEX co-founder Arthur Hayes weighed in on the market turmoil, stating that he was buying the dip. However, he added a note of caution, saying,,  "If BTC falls below $76,500, my credibility is doomed."

Arthur Hayes' Post, Source: X.

From a technical analysis perspective, Bitcoin is approaching the $74,000 support level—a price point that has historically failed to trigger a rebound. However, this level was decisively broken during Trump's rise to influence, shifting from a strong resistance  into a significant support zone. Additionally, the Fear & Greed Index stands at 17 today, signaling extreme fear in the market—an indicator that has often preceded   a rebound.