#MarketPullback GoldPricesSoar

Bitcoin (BTC) price dropped around 3 percent in the past 24 hours to trade about $83,719 on Saturday, during the early London session. Ethereum (ETH) price dropped over 2.3 percent in the past 24 hours to trade at about $1,878 at the time of this writing. Meanwhile, XRP price shed over 5 percent in the last 24 hours to trade at about $2.14.

Top Reasons Why the Wider Altcoin Market Followed Bitcoin in Correction

According to on-chain data analysis, the demand for crypto assets has significantly declined in the last few days. For instance, Bitcoin demand remains in contraction mode, even at a higher rate than what was experienced in December 2023.

The overall cash inflow to altcoins led by Ethereum and XRP has significantly decreased in the recent past.