Bitcoin and Ethereum Waver as Investors Take Profits on Recent Rally
Summary
Top cryptocurrencies experienced a pullback, with Bitcoin dropping to lows of $101,500, suggesting a return to all-time highs may not be imminent. Major altcoins like Ethereum, XRP, Solana, and Dogecoin saw declines of 3% to 5%. The stock market's risk appetite is cooling, influenced by the Federal Reserve's interest rate plans. Healthy inflows into BTC and ETH ETFs provide long-term support, with Bitcoin's $100k level seen as critical for accumulation. The pullback is viewed as a correction within a broader uptrend. Global economic uncertainty and high U.S. interest rates may limit crypto's upside potential. Bitcoin's correlation with the S&P 500 is currently 0.86, indicating potential dependency on Wall Street trends.
