Naim Aslam, an analyst at Zaye Capital Markets, stated in a report that concerns over the ongoing consolidation of bitcoin remain, which could lead to further declines before a rebound occurs. According to LSEG data, bitcoin dropped 2.4% during the day to $95,144. Boosted by the more crypto-friendly regulatory outlook from elected president Trump in the usa, bitcoin previously reached an all-time high of $99,830. However, as the initial momentum from Trump's election win fades, the price of bitcoin has also retreated.