Leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) experienced modest price declines. Bitcoin momentarily dipped below the $112,000 mark, registering a 0.55% decrease over the preceding 24-hour period.
Ethereum saw a comparatively sharper retracement for the day, falling 2.42%. This decline pushed the price of ETH briefly under the $3,360 level.
Market analysts attributed these price dips to typical market fluctuations. Profit-taking by traders after recent price movements was identified as the primary driver behind this minor pullback.
The 2.42% drop in Ethereum is viewed as a standard short-term correction commonly observed during volatile market phases. Analysts emphasized that this movement does not suggest underlying weakness in the asset’s fundamentals.
Investors are reminded that such price movements are indicative of normal volatility within the cryptocurrency market.