Bitcoin falls sharply after its peak

Bitcoin fell sharply, falling 4.6 percent after breaking records throughout the week amid continued interest in spot Bitcoin exchange-traded funds (ETFs). ETF optimism in the world’s largest cryptocurrency, Bitcoin, gave way to a sharp decline. On the cryptocurrency markets, Bitcoin broke a record on Thursday by rising to $73,798 as interest in spot Bitcoin exchange-traded funds (ETFs) continued. Despite breaking records throughout the week, the cryptocurrency fell sharply by 4.6 percent on the last trading day of the week to $68,000. Expectations that major central banks will start cutting interest rates this year and turn to more accommodative monetary policies also supported the increase in Bitcoin throughout the week. Both Bitcoin and Ether, indicators of the top 100 tokens such as BNB and Solana, have increased by approximately 60 percent so far this year. The U.S. Securities and Exchange Commission (SEC) approved 11 different spot Bitcoin ETF applications on January 11. Bukele: We have decided to transfer a large portion of our bitcoin to a cold wallet In addition, the president of El Salvador, the country that first accepted bitcoin as legal tender, made a statement. President Nayib Bukele said on Thursday that El Salvador will transfer a "large portion" of its bitcoin assets to an offline device that will be stored in a physical vault on the territory of the Central American country. "We have decided to transfer a large portion of our bitcoin to a cold wallet and store this cold wallet in a physical vault on our national territory," said Bukele, who was re-elected for a second term last month.