The Bitcoin dropped by 5.91% in the early hours of Monday as it closed at $39,753.20 after hitting the highest level since the middle of May.
The popular crypto had gained on Sunday for an 11th day in the past 12 and traded up to $42,606, its highest since May 18.
Bitcoin, which for weeks trended downward from its mid-April record near $65,000, has now spent more than a week building back as supportive comments from Elon Musk and Cathie Wood helped bump it out of a declining trend.
According to Edward Moya, senior market analyst for North America at Oanda Corp., in his note on Friday, retail interest is strong, while institutional interest is somewhat lagging and needing fresh endorsements.
In the meantime, the second biggest cryptocurrency by market capitalization, Ethereum, dropped by 2.66% to trade at $2,551.84.
