Altcoins Including Ethereum, Dogecoin Slip as Market Cools Off
Main Idea
The cryptocurrency market experienced a correction with Hedera and Hyperliquid leading losses among top 20 cryptocurrencies, following a period of euphoric gains attributed to recent regulatory developments.
Key Points
1. Hedera (HBAR) dropped 5.2% and Hyperliquid (HYPE) fell 5.1%, leading losses among top 20 cryptocurrencies by market cap.
2. Ethereum (ETH) declined 2.6%, Chainlink (LINK) fell 3.3%, and Dogecoin (DOGE) dropped 1.5% in the past 24 hours.
3. The market correction is described as a 'healthy correction' following strong double-digit gains in recent weeks, with analysts noting short-term profit-taking.
4. XRP's prior rally to an all-time high above $3.41 was attributed to renewed institutional interest following President Trump's crypto-friendly policy moves.
5. Analysts suggest the correction is a natural pause after the signing of the GENIUS Act, with uncertainty around Federal Reserve policies adding market pressure.
Description
Hedera and Hyperliquid led losses among the top 20 as altcoins entered a “cooling off period” after overbought signals, Decrypt was told.
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