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Bitcoin was trading just above $93,000 on Friday morning after dropping more than 4% overnight.
It is a continuing selloff of the cryptocurrency after hitting a record high earlier this week.
Bitcoin topped $108,000 on Wednesday. It has trended down since then and is now down more than 6% for the week.
Despite the selloff, Bitcoin’s value is still up 120% for the year.
The U.S. stock markets were also down in pre-market trading with the S&P 500 down 0.4% and the Dow Jones Industrial Average sinking 0.2%, the Associated Press reported.
This is a developing story and will be updated.
