Bitcoin (BTC) Loses $5K in a Day, Ethereum (ETH) Drops Below $4,500: Market Watch

This CryptoPotato article analyzes the recent cryptocurrency market correction following Bitcoin's record-breaking surge past $126,000.

The cryptocurrency market experienced a significant pullback after weeks of bullish momentum since early October. Bitcoin dropped from its all-time high above $126,000 to around $121,700, representing a 2% daily decline. The correction affected most major altcoins, with Ethereum falling 5% below $4,500, while the total market cap decreased by 2% to approximately $4.27 trillion.

• Bitcoin briefly fell to $120,700 before recovering, maintaining its 56.9% market dominance despite the downturn
• Major altcoins including Ethereum, XRP, Solana, and Dogecoin all posted losses of 2-5% during the correction
• Some cryptocurrencies bucked the trend, with Binance Coin gaining 6% and becoming the third-largest cryptocurrency
• Market analysts suggest this could be a healthy pullback rather than the start of a bearish trend, supported by continued ETF inflows