đ„ Crypto Market Overnight Recap â July 23
The crypto market saw a healthy correction overnight as major assets pulled back after recent highs.
đ» Market Overview
Bitcoin (BTC) retraced to $118K, down from a $120K peak.
Ethereum (ETH) dropped ~2.6% to $3,556.
Altcoins like Solana, XRP, Dogecoin, and Cardano fell between 2â7%.
đ Key Reasons for the Dip
đ Profit-taking after strong rallies.
â ïž Overbought technical signals.
đ° ETF uncertainty following a paused Bitwise crypto index fund approval.
đ§ Market Highlights
â PI Networkâs PI and Solana (SOL) showed resilience amid the dip.
đ° ~$200M in liquidations occurred across the market.
đ BTC dominance climbed above 60%, signaling risk-off sentiment.
đ Whatâs Next?
Analysts see this as a short-term correction, not the end of the uptrend.
If BTC holds above $118K, it could retest $123K soon.
đ§ Insight: Short-term volatility is natural during rallies. Use corrections to reassess entries and stay focused on long-term momentum.
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