Investing.com - The price of the digital currency bitcoin was down around 5% on Tuesday, while bitcoin offshoot Bitcoin Cash and Ethereum gained ground.
On the U.S.-based Bitfinex exchange, Bitcoin was trading at $5,592.00 by 09:01 AM ET (01:01 PM GMT), having opened at $5,902.50.
Bitcoin hit a peak of $6,190.00 on Sunday, the highest level in its nine year history, before retreating. Bitcoin started the year near $1,000 and at current prices has a total market capitalization of around $93 billion.
The rally came as investor fears over a regulatory crackdown by China eased.
In recent weeks, China has banned the practice of raising capital through the sale of tokens to the public in what is known as initial coin offerings. It has also ordered the shutdown of digital currency exchanges.
But many market watchers believe the Chinese ban is temporary.
Meanwhile, Bitcoin Cash was last at $329.23, up 5.36% for the day.
Bitcoin cash has a total market cap of around $5.5 billion at current prices, making it the fourth most valuable cryptocurrency.
Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was up around 7.22% to $305.32.