Bitcoin's slide from a record high extended to over 10% as reduced scope for looser US monetary policy dampened speculative enthusiasm.
The price of Bitcoin dropped as low as $95,564 after reaching an all-time peak above $108,000.
The downturn also affected smaller tokens like Ether and Dogecoin.
The correction in the crypto market is considered typical in bull markets, with some investors choosing to reduce their exposure and take profits amidst expectations of fewer Fed rate cuts in 2025.