Bitcoin (BTC-USD) prices are falling from its record highs Friday morning, following a rally that rippled across the entire cryptocurrency market. This surge in Bitcoin's value was primarily fueled by the long-awaited approval of spot Bitcoin exchange-traded funds (ETFs).

However, investors are voicing concerns that the cryptocurrency's rise may indicate an unsustainable bubble, prompting them to reevaluate their positions.

Yahoo Finance's Seana Smith and Bradley Smith break down the details.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith

Video Transcript

SEANA SMITH: Let's take a look at crypto, more specifically Bitcoin. You're looking at a bit of a drop here today, off just about 6%. Now, the move lower coming after Bitcoin really led the crypto rally here earlier in the week. We were talking about record highs, the fact that Bitcoin finally breaking above that $72,000 level.

Brad, we are seeing a bit of a backing off. Not necessarily a massive surprise given the run up that we've seen in the price of Bitcoin, not only over the last two weeks but really what we've seen since the start of the year.

And that same type of debate that we're having in the equity markets now starting to creep into the crypto markets. We talk about bubble, whether or not Bitcoin is in a bubble, if we're starting to see signs of a bubble given the fact that this momentum here to the upside hasn't slowed much.

BRAD SMITH: Yeah, Nikolaos Panigirtzoglou over at JPMorgan, the managing director there, said when adjusting for volatility, Bitcoin's allocation here in investor portfolios has already outpaced that of gold here, and that is noteworthy for the debate that we've been, of course, a long time having about digital gold versus physical gold which, in itself, has warranted many conversations given some of the new highs that we've seen gold moving towards.

So one of the huge things for Bitcoin specifically is the next events that could potentially come forward and the types of inflows that we're seeing on top of that and the inflows into investor portfolio allocation that we were talking about just a moment ago. And one of the additional things that he highlighted was a net inflow of $9 billion into Bitcoin ETFs since their inception. So you've got the inflows into ETFs at the same time where there is going to be some of the holders out there that are perhaps going to be able to sell at-- and especially if they got in maybe a decade or, you know, five years even ago. They might be able to sell to some of the investment firms or some of the ETF providers or issuers at a much higher price if they are able to put that supply back into the market.

And then it's a larger question of from there, what type of event does the halving create? Does that mean even more of a skyrocketing of Bitcoin price? So those are just a few of the events.

And then elsewhere in the global crypto market cap, it's going to be the Ethereum ETF or Ether ETF and seeing what type of fanfare that adds onto this fire as well.

SEANA SMITH: Yeah, there certainly has been more and more talk, it seems like, by the day about an Ethereum ETF.