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.
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