Bitcoin hits $100,000, then drops to $96,000

Bitcoin, which had surpassed $100,000 the previous day, was hit by a massive flood of profit-taking selling, causing the price to collapse below the $100,000 mark and even drop to the $96,000 range.
As of 7:40 a.m. on the 6th, Bitcoin was down 2.29% from the previous 24 hours on CoinMarketCap, a global coin market relay site.
The previous day, Bitcoin surged to $103,900, surpassing $100,000 for the first time in history.
This is because President-elect Trump has appointed former Securities and Exchange Commission (SEC) Commissioner Paul Atkins, a prominent pro-cryptocurrency figure, as the new chairman.
However, today it seems to have plummeted due to the emergence of a large number of profit-taking sellers. When Bitcoin plummeted, most other coins also fell.
-Ethereum is down 1.71%, while Ripple, the fourth largest cryptocurrency by market capitalization, is down 5.77%.