#MarketPullback The global market capitalization has decreased by 1.58%, settling at approximately $2.93 trillion.

📉 Market Overview

Bitcoin (BTC): Currently trading around $94,031, BTC has dipped below the critical $95,000 support level. Analysts are monitoring the $91,500–$92,000 range as the next potential support zone ahead of the upcoming Federal Reserve interest rate decision on May 7.

Ethereum (ETH): ETH is priced at approximately $1,803. Despite the recent decline, increased accumulation by large holders and anticipation of the upcoming Pectra network upgrade suggest a potential rebound towards the $2,000 mark.

Altcoins: Major altcoins such as XRP, Solana (SOL), and Cardano (ADA) are experiencing declines ranging from 2% to 4%. XRP, in particular, has fallen below a key support level, indicating intensified downward pressure.

🔍 Contributing Factors

Macroeconomic Concerns: Investor sentiment is cautious due to uncertainties surrounding the Federal Reserve's upcoming interest rate decision. A stronger U.S. dollar and inflation fears are also contributing to the market's volatility.

Profit-Taking: After reaching new highs earlier this year, some investors are locking in profits, leading to the current market correction.

Whale Movements: Significant transactions, such as a recent $170 million Bitcoin transfer, have raised questions about potential accumulation or exit strategies by large holders.

📈

While the current pullback has introduced short-term uncertainty, some analysts view this as a healthy correction within a longer-term bullish trend. Historical patterns suggest that such consolidations can precede further upward movements, especially if key support levels hold and macroeconomic conditions stabilize.

Investors are advised to monitor upcoming economic indicators and market responses closely. As always, conducting thorough research and considering individual risk tolerance is crucial when navigating the cryptocurrency market.