Bitcoin has sharply fallen in price after record growth

On Tuesday morning, the bitcoin exchange rate dropped significantly to $116,760, but by the evening it had grown and was holding at $119,354. This triggered a general drop in the cryptocurrency market. 

The reason was the profit-taking by investors after the rapid growth in the last two weeks: previously, bitcoin reached a record $ 123,000. 

The active growth of altcoins was caused by the adoption of key regulation in the field of cryptocurrencies in the United States, and bitcoin received additional support after the disclosure of information about $2 billion worth of crypto assets by Donald Trump's Trump Media company. & Technology Group Corp.

However, by the beginning of the week, the positive dynamics began to wane – bitcoin sharply retreated from the highs, and altcoins also showed a correction after it. Investors have become more cautious due to Donald Trump's impending tariffs, which will take effect on August 1, as well as the upcoming Federal Reserve meeting.