The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

Bitcoin briefly hit its lowest price since mid-November as it slipped below $90,000 Monday afternoon, before gradually paring those losses by Tuesday morning. XRP, the popular cry

Pension schemes for the states of Wisconsin and Michigan are among the top holders of US stock market funds devoted to crypto, while some pension fund managers in the UK and Australia have also made small allocations in recent months to bitcoin using funds or derivatives.

During a great year for cryptocurrencies, hedge funds focused on digital assets unsurprisingly did very well, too. It’s just that many didn’t do as well as the industry’s most famous token: Bitcoin.

Several crypto hedge funds saw positive returns last year, but none could match Bitcoin's remarkable performance, which surged 120% to surpass $100,000 for the first time.