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Despite nearing the unprecedented $100,000 mark, Bitcoin has experienced a significant downturn, currently trading at $93,845. 

This follows a  rapid and seemingly unstoppable surge in the wake of  former President Donald Trump's re-election. 

The recent dip reflects a broader market correction as investors begin cashing in on the gains made over the past weeks.

On November 25th, data from  Coinbase showed that the cryptocurrency's price fell by 3.16%, placing it  well below its peak of nearly $100,000 reached on November 22nd. 

Bitcoin, which had been trading under $70,000 on Election Day, soared about 45% to its recent high, largely propelled by market enthusiasm post-election.

Market analysts, including those from CNBC, suggest that the post-election excitement attributed to Bitcoin's swift rise. 

"Since November 5th, the day Trump was re-elected, Bitcoin surged over 40%," CNBC reported. 

This rapid increase triggered a wave of profit-taking, subsequently pressuring prices downward.

Amid Bitcoin’s retreat, other cryptocurrencies, known as altcoins, have started to capture momentum. 

Ethereum, for instance, rose 4.41% to trade at $3,434 on November 24th, surpassing the $3,500 mark for the first time since July. 

This boost is largely fueled by anticipated upgrades to the Ethereum network and an expansion of the decentralized finance (DeFi) ecosystem.

Solana also recorded gains, increasing by 1.05% to $256, driven by heightened interest from U.S. asset managers applying for exchange-traded funds (ETFs). 

Since the start of the month, Solana has climbed over 60% from the $160 range, demonstrating significant market confidence.

In contrast, Dogecoin showed a remarkable rise of 325.7% from its 50-day low, trading at 613.9 won. 

This surge is largely fueled by continuous endorsements by influential figures like Elon Musk and heightened social media interest.

Ripple also experienced growth, trading up 0.44% at 2,055.0 won. 

This marks an impressive 193.6% increase from its 50-day low price of 700.0 won.

Other forms of cryptocurrencies such as  Cardano and Polkadot are also experiencing shifts also. 

Cardano has seen a modest increase, suggesting a cautious optimism among investors about its scalability projects. 

Meanwhile, Polkadot has introduced new governance features aiming to attract a broader base of developers, potentially increasing its market presence.

The cryptocurrency market remains highly sensitive to global events and investor sentiments. 

Notably, positive developments such as cease-fire negotiations between Israel and Hezbollah have not stemmed Bitcoin’s decline. 

This indicates that external geopolitical events have limited impact compared to the internal dynamics and speculative nature of the cryptocurrency markets.

As the market continues to react to recent political and economic developments, investors and analysts alike are watching closely to see if Bitcoin can regain its momentum or if the current price correction will lead to a broader market recalibration. 

The coming weeks will be crucial in determining Bitcoin’s trajectory and whether the landmark $100,000 threshold remains within reach in this volatile market landscape.