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Crypto Market Update – Correction Phase After Strong Rally
The cryptocurrency market is witnessing a short-term correction following a sharp rally in recent weeks. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have lost ground in the last 24 hours, largely due to profit-taking and macroeconomic uncertainty.
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Bitcoin (BTC) – Pullback After Record High
Current Price: $106,000 – $109,000
24H Change: -2% to -3%
Market Cap: ~$2.14T – $2.16T
24H Volume: ~$65B – $67B
Weekly Gain: +4%
Monthly Gain: +15%
All-Time High: $111,970
Outlook: The recent dip is likely profit realization after BTC touched a new ATH.
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Ethereum (ETH) – Correction at Key Support
Current Price: $2,500 – $2,600
24H Change: -3% to -4%
Market Cap: ~$308B – $311B
24H Volume: ~$29B – $33B
Weekly Gain: +1% to +4%
Monthly Gain: +47% to +51%
Technical Note: $2,500 acts as a critical support. Holding this level could reignite bullish momentum.
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Key Reasons for Market Pullback
Profit-Taking: Investors are locking in gains after recent highs.
Macroeconomic Concerns:
Uncertainty around U.S. inflation data and FED rate decisions.
Investor sentiment indicators reflect growing fear.
Geopolitical Risks: Heightened global tensions reducing risk appetite.
Regulatory Pressure: Ongoing regulatory developments like Türkiye’s “Proof of Reserve” mandate add caution.
Arbitrage Gaps: Minor price differences between exchanges continue, but the overall trend is downward.
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Top Decliners in Last 24 Hours Some altcoins have dropped over 50%, mainly lower-cap or hype-driven projects:
MOODENG (Moo Deng SOL)
ACT I (The AI Prophecy)
BNX (BinaryX)
These drops highlight the volatility in smaller coins, especially when exposed to speculative news or liquidity issues.
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Conclusion The crypto market is in a healthy correction phase following a steep rally. Long-term fundamentals remain strong, but short-term volatility is likely to persist. Investors are advised to remain cautious and follow market updates closely.
#Staked TRX ETF Application# #Is the Altcoin Rally Next?# #MOODENG & COOKIE Surge#