#TrumpBitcoinEmpire The broader cryptocurrencies where the sector saw some profit-taking after a stunning rise over the past two weeks.

Bitcoin had risen to record levels exceeding $123,000, and alternative cryptocurrencies also surged as supporters of cryptocurrencies celebrated the U.S. government's approval of a major regulation for cryptocurrencies. Bitcoin also received support after President Donald Trump's company, Trump Media & Technology Group Corp (NASDAQ:DJT), disclosed a reserve of $2 billion of this cryptocurrency.

However, this rise seemed to be drying up by Tuesday, as Bitcoin sharply retreated from recent record levels. Other alternative cryptocurrencies also recorded some losses after strong gains in recent sessions.