#TrumpBitcoinEmpire Bitcoin dropped on Tuesday, leading a decline in the broader cryptocurrency prices as the sector experienced some profit-taking after a stunning rise over the past two weeks.

Bitcoin had surged to record levels exceeding $123,000, and alternative coins also rose as cryptocurrency supporters celebrated the U.S. government's approval of a major regulation for cryptocurrencies. Bitcoin also received support after former President Donald Trump's company, Trump Media & Technology Group Corp (NASDAQ:DJT), disclosed a reserve of $2 billion in this cryptocurrency.

However, this increase seemed to be waning by Tuesday, as Bitcoin sharply retreated from recent record levels. Other alternative coins also recorded some losses after strong gains in recent sessions.