Bitcoin’s value fell over 2% to US$92,277.19, with a brief dip to US$91,433.54, according to Coin Metrics.

The decline follows a recent peak close to the US$100,000 mark, as investors began securing profits.

The wider cryptocurrency market also saw declines, with the CoinDesk 20 index dropping nearly 6%.

Analysts suggest that the US$100,000 level remains a significant psychological barrier for bitcoin.