Bitcoin, the largest cryptocurrency globally, saw its market cap increase to $1.923 trillion. Bitcoin's dominance stands at 56.99%, as per CoinMarketCap. However, BTC trading volume in the last 24 hours dropped by 23.

Fundstrat's Tom Lee told CNBC's "Squawk Box" Monday that bitcoin could correct to $70,000 before breaking to new records and eventually end the year between $200,000 and $250,000. Crypto traders are accustomed to steep drawdowns in bitcoin during a bull market.

Bitcoin was rising marginally but remained below $100,000 following a retracement from last month's record high. "Discretion may be the better part of valour in digital assets over the next week or so,