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Bitcoin continued its decline, hitting its lowest levels since November and trading as low as $91,600, Laura Bratton reported for Yahoo Finance.
Bitcoin first surpassed the $100,000 milestone in early December and later reached a peak of $108,000.
The cryptocurrency’s recent downturn follows a surge to record highs in the wake of President-elect Donald Trump’s victory in early November.
Bitcoin first surpassed the $100,000 milestone in early December and later reached a peak of $108,000. This rally in the world’s largest cryptocurrency also fueled a surge in crypto-related stocks.
Trump is viewed as a potential boon for the crypto industry, which faced strict scrutiny under the leadership of Gary Gensler at the Securities and Exchange Commission (SEC) during the Biden administration.
Gensler had focused on mitigating fraud in the sector and announced his resignation in November. In December, Trump said he would nominate crypto-friendly Paul Atkins to lead the SEC, signaling a shift in regulatory policy.
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