Bitcoin Suffers 10% Loss Amidst Profit-Taking

Bitcoin has continued to decline since the opening of trading on Monday, influenced by a decrease in optimism sparked by U.S. President Donald Trump’s decisions and executive orders, all of which favor cryptocurrencies and support the sector. Bitcoin also benefited recently from executive orders related to inflation.

The world’s most widely traded cryptocurrency recorded a loss of about 10% on Monday due to profit-taking by investors in digital asset markets, taking advantage of the record gains it achieved recently. The largest cryptocurrency by trading volume had reached an unprecedented level of $109,556 in recent days.

Bitcoin dropped to $99,558 compared to the previous day’s closing of $102,573. The most important cryptocurrency in the markets reached its highest level on Monday at $103,189, compared to the lowest level of $97,750.

U.S. President Trump has signed a number of executive orders and official memoranda aimed at lowering energy prices and other measures aimed at reducing inflation, a goal that the Washington Post said Americans elected Trump to achieve.

More liquidity may be available in the markets if inflation declines, which could benefit risky assets such as Bitcoin and other cryptocurrencies.