BTC/USD: Bitcoin Prices Cool as Post-Election Rally Sputters, Dogecoin Drops 20%

OG coin paused for breath the past few days with prices retreating from their record high. When’s the next leg up?

• Bitcoin prices BTCUSD pulled back from their record-setting run and dived under $88,000. Apparently, some profit-taking took place (well deserved, crypto holders) after the original cryptocurrency peaked at an all-time high of more than $93,000 on November 13. In early Friday deals, the token was going for about $87,500, down roughly 8% from record.
• Dogecoin, the meme token created as a joke in 2013, also eased up the attitude but with more passion. The Shiba Inu-themed coin is lower by 20% from its recent peak of more than 40 cents and was changing hands at 36 cents a pop. Dogecoin pumped hard this week after Donald Trump announced the creation of the Department of Government Efficiency, “DOGE”, and tapped Elon Musk as its chief.
• Against that backdrop, the retreat is welcome news for those who want a sustained, long-term rally. With less froth and a few healthy pullbacks, analysts say, the digital-asset market could more organically scale and continue on its upward trajectory. The ETF space also paused its heavy buying with about $510 million jammed into spot Bitcoin ETFs on Thursday — about half the $1.1 billion in net inflows on Monday.