#CryptoCPIWatch Bitcoin fell further on Tuesday amid profit-taking above the key $100,000 level, although optimism about the temporary trade truce between the U.S. and China continued to provide some support.
The largest cryptocurrency in the world dropped by 1.9% to $102,363.0 by 08:03 AM.
The currency saw sharp gains last week as it surpassed the desired $100,000 level thanks to optimism about easing trade tensions. It reached over $105,000 last week.
However, investors took profits ahead of key U.S. inflation data scheduled to be released later in the day.
Investors are absorbing the U.S.-China tariff agreement and the SEC's plans for new crypto rules.
The United States and China announced on Monday that they had agreed to temporarily reduce the high tariffs imposed on each other.
The United States will reduce its tariffs on Beijing from 145% to 30%, while China will cut its retaliatory tariffs from 125% to 10%, both for 90 days.
The announcement came via a joint statement following trade talks in Switzerland over the weekend.
In addition to the optimism, President Donald Trump signed an executive order on Monday that reduces tariffs on low-value Chinese imports, or De Minimis, from 54% to 120%, while maintaining a fixed fee of $100.
Cryptocurrency companies are looking to list in the United States amid favorable policies.
American Bitcoin, a cryptocurrency mining company co-founded by Eric Trump and Donald Trump Jr., announced plans for a public offering through a full stock merger with Gryphon Digital Mining. The merged company will list on Nasdaq.
This move aligns with President Donald Trump's pro-cryptocurrency regulatory stance, which has encouraged similar projects to enter U.S. capital markets.
In other news, the Financial Times reported on Tuesday that Hong Kong-based Animoca Brands, an investor in cryptocurrency, plans to list on the New York Stock Exchange.
On the regulatory front, investors also absorbed SEC Chair Paul Atkins' detailed plans to introduce new rules for cryptocurrencies covering a variety of factors, including token distributions and exemptions.
