Bitcoin falls 2.12% to $61,531 as traders lock profits
Bitcoin took a dip, dropping 2.12% in the past 24 hours to $61,531 on Thursday.
Ethereum also slipped by 1.69% to $1,646, and popular altcoins like BNB, XRP, Solana, Dogecoin, and Cardano corrected up to 2.70%.
The pullback comes as traders lock in profits and approach the market with caution.
Crypto cap falls 1.57% to $2.12T
The overall crypto market cap fell by 1.57% to $2.12 trillion amid some wild price swings this week, Bitcoin even flirted with $59,000 for a bit.
Liquidations topped $970 million (mostly from long positions), including a big whale losing $1.3 million on a single trade.
Despite these bumps, experts say rising ETF interest and institutional activity could help steady things long term.
Piyush Walke flags investor risk aversion
According to Piyush Walke (Derivatives Research Analyst, Delta Exchange), factors like persistent inflation and expectations of higher interest rates from the Federal Reserve are making investors more risk-averse right now.
The market is in a corrective phase, they noted, but added they're still upbeat about Bitcoin and Ethereum's future prospects.