The altcoin market cap fell by about 10%, dropping from nearly 1.57 trillion USD to 1.4 trillion USD. This occurred alongside a 5% decline in the overall crypto market cap, from around 4 trillion USD to 3.78 trillion USD. Many altcoins reported losses between 6% and over 20%.
Traders, particularly those in the US and Europe, triggered the profit-taking correction, with significant liquidations seen across long positions. Analysts suggest this pullback is part of a natural profit-taking phase, maintaining a bullish outlook for future market performance.
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