Why is the cryptocurrency market declining | Natural correction after excessive buying

• The market is currently experiencing a corrective movement following a strong upward wave, with market capitalization down by 1.23%.

• Major cryptocurrencies like XRP (down -7%), BTC, and ETH have reached overbought areas according to the Relative Strength Index (RSI).

• The RSI for Bitcoin has dropped to a level of 40, indicating a temporary decline in momentum.

• Investors have started to take profits, especially in the altcoin market.

• Despite the decline, support levels for Bitcoin remain strong, between $110,000 and $106,000, keeping the possibility of a rebound in play.

• The release of weak economic data in the United States has increased expectations for interest rate cuts, which could support the market later.