The US Bitcoin price (American Bitcoin Corp, NASDAQ) has rallied in a volatile post-crash rebound over the past 24 hours, trading within a wide intraday range but ultimately sitting around the middle of the range after yesterday’s lockup-driven wipeout.
Summary
- The price of US Bitcoin fell nearly 40% after pre-merger private placement shares were released and early investors were sold off.
- Eric Trump cited expected volatility, said the fundamentals are “virtually unprecedented” and vowed not to sell his stocks.
- Despite strong gains in the third quarter and 4,090 BTC in government bonds, ABTC is down about 76.5% from its September peak, amid a broader decline in crypto stocks.
Traders saw the US Bitcoin price fall off a cliff on December 2. The Trump family-backed miner embarked on a selloff when its locked-up shares were released and shares briefly fell. lost almost half its value before ending the day almost 40% lower
However, on December 4, intraday, the price fluctuated roughly between USD 2.25 and USD 2.77, indicating an aggressive two-way flow and a short-term mean reversal following the previous day’s capitulation.
Eric Trump and American Bitcoin
ABTC, which trades on Nasdaq, fell from a previous close of $3.58 to an intraday low of $1.80 in the first hour of Dec. 2 before recovering some of the move to end at $2.19, a 38.83% loss. The drop coincided directly with the end of the lockup on pre-merger private placement shares that were issued before American Bitcoin completed its merger with Gryphon Digital Mining and listed on the exchange in September.
“Today our pre-merger private placement shares were released – these early investors are freely available for the first time to cash in on their gains, which is why we will see volatility,” co-founder Eric Trump wrote on Trump added that the company’s fundamentals are “virtually unparalleled” and underlined that he is not selling his own stake, putting himself at the center of the turmoil as a long-term shareholder.
Strong quarter, growing bitcoin pile
The sell-off comes just weeks after US Bitcoin reported so-called strong third-quarter results. Revenue rose to $64.2 million from $11.6 million a year earlier, while net profit reached $3.5 million, compared to a loss of $0.6 million in the same quarter of the previous year. “We more than doubled our mining capacity, more than doubled revenue and grew gross margin by seven percentage points quarter-over-quarter,” CEO Michael Ho said at the time, arguing that the company is scaling rapidly.
In addition to that expansion, the company has built up its own bitcoin reserve. On November 13, US Bitcoin said it had approximately 4,090 BTC in its treasury, counting coins in custody and coins pledged for miner purchases, giving shareholders direct exposure to both the asset and the mining operation.
Shares under pressure, sector under pressure
Despite the optimistic figures, the share has been declining for months. Since peaking at $9.31 in September, ABTC has fallen approximately 76.5%, making the name one of the more volatile publicly traded bitcoin proxies. The latest decline simply accelerated that trend, compressing a slow revaluation into a single trading session.
The situation with crypto-linked stocks hasn’t helped. Coinbase is down 20% in the past month, USDC issuer Circle is down 39% and Gemini is down 47%, reflecting a broader slump as digital asset markets remain weak. Looking ahead, Clear Street analyst Brian Dobson told Bloomberg that further stock unlocks for ABTC are planned in 2026 and advised investors to keep a close eye on these expirations, warning that more supply could put pressure on an already fragile stock.
