Bitcoin Falls From Record High as Long-term Holders Take Profits, Can Drop to $80K

Market Analysis by The Tokenist (Timothy Fries) covering: Bitcoin US Dollar. Read The Tokenist (Timothy Fries)'s Market Analysis on Investing.com

) meteoric rise hit turbulence this week as the cryptocurrency retreated from its all-time high, dropping more than 6% to $91,912 in early trading Tuesday. The decline comes after Bitcoin reached a historic peak above $99,000 last week, marking its largest monthly price gain and bringing its year-to-date returns to 122%.

The recent correction has done little to dampen optimistic projections for Bitcoin’s future. The cryptocurrency has surged approximately 560% from its low two years ago, fueled by multiple catalysts, including a 46% rally following Donald Trump’s election victory and increased institutional adoption.

The cryptocurrency continues to show robust market participation, with trading volumes exceeding $88.4 billion across more than 11,800 active markets.

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