Bitcoin fell on Thursday after rising in the previous session, as investors took some profits at a seven-week high, while the digital currency remained supported by signs of easing trade tensions between the United States and its key trading partners.
The largest cryptocurrency in the world dropped by 1.2% to $92,575.3 by 06:35 Saudi time.
Bitcoin rose by about 7% surpassing $94,000 on Wednesday to reach its highest level since early March.
Signs of easing trade tensions boost risk appetite
The rise on Wednesday came after U.S. President Donald Trump backed away from his recent threats to fire Federal Reserve Chair Jerome Powell.
He also indicated the possibility of easing tariffs on China, raising hopes for a more stable economic outlook.
U.S. Treasury Secretary Scott Pruitt said on Wednesday that high tariffs between the U.S. and China are unsustainable, as the Trump administration indicated its willingness to ease trade tensions.
Positive sentiment is further bolstered by media reports showing that Japan's Economy Minister Ryoshi Akazawa will visit Washington from April 30 to May 2 to participate in a second round of tariff negotiations.