The cryptocurrency market is experiencing a correction after a significant rally, with tokens losing between 5% and 20% from their recent highs.
Bitcoin (BTC) has dropped from a record high of $103,000 to $97,000, losing about 6%. Notably, BTC has not yet finished the trading session above $100,000 — the record high remained intraday. The pullback is associated with profit-taking after a sharp jump caused by positive expectations regarding President Donald Trump's policies aimed at developing the crypto industry.
Ethereum (ETH) has fallen from a recent high of $4,100 to $3,500, and Solana (SOL) has corrected from a record above $260 to $220. Ripple's XRP has lost 18%, falling from $2.80 to $2.30, amid expectations of the launch of the first exchange-traded funds under the leadership of new SEC chief Paul Atkins.
The correction is seen as a necessary pause for the market after an impressive rally. Follow @Sasha why NOT
