Analyst: Bitcoin may decline further before rebounding

ChainCatcher news, Zaye Capital Markets analyst Naeem Aslam stated in a report that concerns over the ongoing consolidation of Bitcoin persist, which may lead to further declines before a rebound occurs.

According to LSEG data, Bitcoin fell 2.4% intraday to $95,144. Boosted by the prospect of a more crypto-friendly regulatory environment under President-elect Trump, Bitcoin previously reached an all-time high of $99,830. However, as the initial momentum from Trump's election victory faded, Bitcoin's price also retreated.