Major cryptocurrencies have declined, causing the total market value to fall below $4 trillion, after reaching record levels last week.

Bitcoin decreased by $BTC

, with a drop of 2.2% to record around $115,000, while Ethereum lost $ETH

, the second largest cryptocurrency, by more than 4% to drop below $4,300 on Monday, according to data from Investing Saudi Arabia. The combined value of all cryptocurrencies also fell to $3.9 trillion.

These losses come after Bitcoin hit a record high of $125,514 on August 14, while Ethereum approached its all-time high achieved in November 2021 on the same day. These gains were supported by extensive institutional investments led by digital treasury companies, which are listed entities aimed at building reserves of cryptocurrencies.

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