Bitcoin (BTC) experienced a sharp decline after recently reaching new highs, marking a sudden shift in its price trajectory.

Late Thursday, the price of Bitcoin fell below $94,000, reversing its recent climb to just under $100,000.

The exact cause of this drop remains unclear, with no immediate news or catalyst triggering the move.

Data from CoinDesk Indices, which compiles prices from various exchanges, shows Bitcoin dipping as low as $93,468.34. On Binance, the price briefly fell to $90,500, while Coinbase recorded it at around $92,000.

Surprisingly, the drop in Bitcoin’s price did not trigger a wider selloff across the broader crypto market, which is uncommon. Other major cryptocurrencies stayed relatively stable during this period.

After the quick plunge, Bitcoin managed to recover, bouncing back to above $96,000.