The price of Bitcoin temporarily surpassed $106,000 on the 4th, but has since fallen back to around $105,000.
According to the global virtual asset market tracking site CoinMarketCap, as of 8 a.m. that day, Bitcoin was trading at $105,699 per transaction. It soared to $106,758 at midnight but declined again after giving back some gains. Compared to a week ago, it is down 3.18%.
Ethereum was down 2.75% from a week ago, trading at $2,598 at a similar time. Other altcoins, such as XRP, BNB, and Solana, experienced larger declines. In particular, Solana is trading at $155.8, down 11.9% from a week ago.
However, the market still holds an optimistic outlook. Although the price of Bitcoin has declined since surpassing $110,000 last month, the potential for a rise remains due to the virtual asset policies being pursued by the Trump administration. Additionally, Bitcoin's recognition as an inflation hedge following the downgrade of the U.S. credit rating last month is also a positive factor.