The price of Bitcoin (BTC-USD) topped a new all-time trading high on Tuesday morning but the cryptocurrency has since sold off as it dropped 10% since recording its new high.

The digital currency momentarily surpassed its November 2021 highpoint and jumped up to $69.1K at 10:10 a.m. ET, but has since moved down to $61.8K.

The drop in price can be attributed to large block sell orders that were hovering near $70K. CoinDesk reported that Binance displayed big sell orders grouped together at these key technical levels, with more than 300 BTC, worth roughly $20M set to be sold at $69K and over 500 BTC slated for sale at $70K.

See a visual chart below that showcases the latest price drop in Bitcoin.

Bitcoin backed ETFs and managed futures funds: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), (EZBC), and (BITO).