Bitcoin (BTC) has been struggling to gain a foothold on its price for the past couple of months. At the time of writing, it was hovering near $69,000, a drop of nearly 44% since its peak of $124,000 in October 2025.
But according to popular investor and CEO of Gerber Kawasaki Wealth & Investment Management, Ross Gerber, the reason for this struggle may not be macro forces alone.
Instead, he points to the explosion of celebrity-backed meme coins as a key driver of fading confidence.
Related: Memecoin mania cools, as Trump token invites greater scrutiny of the sector
Gerber argues that the launch of Donald Trump and Melania Trump-themed meme coins around his second term’s inauguration in January 2025, followed by a wave…
