Bitcoin, Ether, and Crypto-Tied Stocks Drop as Profit-Taking Persists

Bitcoin (BTCUSD) prices fell Monday as investors continued to take profits after the token hit record highs last week.

The token, which hit a record high of $124,500 early Thursday, was down around 2% at about $115,179. Ether, the second-biggest digital coin, is also down, falling 3% at around $4,335, while XRP dropped around 4%. 

President Donald Trump signed an executive order earlier this month that would open the door for workers to invest in crypto and other alternative assets in their 401(k) retirement accounts, buoying prices of the asset class. 

Meanwhile, crypto-tied stocks are dropping in premarket trading Monday. Shares of software maker Strategy (MSTR), the company that has popularized the bitcoin treasury strategy, crypto miners MARA Holdings (MARA) and Riot Platforms (RIOT) and crypto exchange Coinbase Global (COIN) are all down around 2%.