The cryptocurrency market experienced a sharp pullback today, with major coins like Bitcoin, Ethereum, and XRP slipping after days of strong momentum.
š Key Highlights:
Bitcoin (BTC) tested the $115K support zone, retreating nearly 3% in the last 24 hours.
Ethereum ($ETH fell below $4,400, recording losses of over 4%.
XRP also dropped under the $3 mark, facing 5ā6% declines.
Market-wide, over $500 million in liquidations hit traders, mostly long positions.
š Sector Performance:
While large-cap assets saw red, DeFi tokens showed resilience.
Chainlink (LINK) stood out with a 14% surge, boosted by fresh partnerships and new on-chain features.
š Factors Driving the Pullback:
Investor sentiment cooled after U.S. rate-cut expectations weakened, sparking cautious risk-taking.
A wave of profit-taking after recent highs contributed to added selling pressure.
š® Whatās Next?
Despite the downturn, analysts note that the market is still in a long-term bullish cycle. Corrections like these often provide accumulation opportunities for long-term investors while shaking out leveraged positions.