#MarketPullback After a euphoric weekend that saw Bitcoin surpass $1 trillion in market cap and Ether surge past $2,000, w/c Monday 22 Feb kicked off with an abrupt change in mood in the crypto markets.

With the exception of a handful of digital assets such as NEM, SOL and DAI, cryptoassets across the board have tanked aggressively.

On Monday, Bitcoin traded within a record-setting $10,877 range after falling from its all-time high above $58,000 set over the weekend. The flagship crypto is now trading around $47K.

Ethereum also witnessed a massive pullback, dropping more than 18% from its weekend highs. Elsewhere in the cryptocurrency market, high-cap coins such as BNB, DOT, and LINK also fell by similar margins.

Ralph Payne, CFO at Copper, believes a sharp correction of this magnitude should not come as much of a surprise. He commented: “We have seen the crypto market leap from around $850bn in late January to about $1.8trillion over the weekend. There is no asset that will ever just shoot up in a straight line without a pullback."