The cryptocurrency market is currently experiencing a pullback, with major digital assets like Bitcoin and Ethereum seeing price declines. This downturn is influenced by several factors, including negative ETF outflows, a hawkish stance from the Federal Reserve, and broader market sentiment
XRP, despite a recent rally, has also seen a 3.3% decline over the last 24 hours as investors take profits [3]. Bitcoin, after reaching a record high of $109,135 earlier this year, has pulled back, with some analysts noting a drop to #UST $95,111 [4] [5]. Ethereum has also experienced a decline, falling below its $USDC 2,700 resistance level [5]. The overall crypto market capitalization has decreased by nearly 2% in the last 24 hours, settling around its 30-day lows of $USTC 3.17 trillion [5]. This market behavior aligns with the concept of a "pullback in uptrend," where prices temporarily decline before potentially resuming an upward trajectory [6]. Traders often view these pullbacks as opportunities to "buy the dip" [6].
