Bitcoin
Gold Bitcoins are seen in the window of a Bitcoin and cryptocurrency exchange office in Istanbul, Turkey. Chris McGrath/Getty Images

Bitcoin was trading just above $93,000 on Friday morning after dropping more than 4% overnight.

It is a continuing selloff of the cryptocurrency after hitting a record high earlier this week.

Bitcoin topped $108,000 on Wednesday. It has trended down since then and is now down more than 6% for the week.

Despite the selloff, Bitcoin's value is still up 120% for the year.

The U.S. stock markets were also down in pre-market trading with the S&P 500 down 0.4% and the Dow Jones Industrial Average sinking 0.2%, the Associated Press reported.

This is a developing story and will be updated.