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The huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before.

Once it broke $100,000 in Thursday's Asian morning, boosted by U.S. President-elect Trump's nomination of pro-crypto Paul Atkins to run the Securities and Exchange Commission, it was soon at an all-time high of $103,649. The total value of the cryptocurrency market has almost doubled over the year so far to hit a record over $3.8 trillion, according to data provider CoinGecko. Bitcoin has more than doubled in value this year and is up more than 50% in the four weeks since Donald Trump's sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.

Bitcoin hits $100,000 in a major win for crypto bulls.

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On the heels of bitcoin's $100,000 record, Wall Street bulls already see the path toward $200,000.

After BTC hit $100,000, growing from zero to $2 trillion in a decade and a half, CoinDesk rounded up reactions — from believers and skeptics — to the milestone.

As excitement builds, investors must tread carefully, given bitcoin's trademark volatility.