Bitcoin tumbles after hitting new record high above $69,000

Bitcoin touched new all-time highs for the first time in over two years before experiencing a sharp decline as traders decided to cash out some profits. Bitcoin hit a high of $69,170, topping November 2021's all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spot bitcoin ETFs in late January. It then reversed course and was recently down around 2% at $65,694 at 10:57 am. Among other major crypto tokens, Dogecoin fell 9.6%, while Shiba Inu declined 7.3%. BNB, XRP, Cardano, Avalanche, Polkadot, Chainlink, and Polygon also declined 4-6%. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.3 trillion.

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