Bitcoin Retreats from Record High Amid Market Capitalization Decline

Bitcoin retreated from its record high of $81.2k to $78,933 in the past 24 hours, as the overall crypto market capitalization declined by 0.32 percent to $2.65 trillion.

The CMC Crypto Fear and Greed Index dropped to 80 (Extreme Greed) from its yearly high of 81 recorded a day earlier, indicating a slight decrease in sentiment.

Liquidation of short positions exceeded the liquidation of long positions, with $376 million versus $204 million respectively, suggesting that some investors are taking profits or closing their positions.