Aave's 3.03% Pullback: Profit Taking and Rotation to BTC
Aave (AAVE) experienced a pullback of 3.03% after a sharp rally driven by Aave V3 and V4 growth, as well as a rotation into DeFi blue chips.
The move was mainly caused by profit taking and rotation into Bitcoin and large caps, rather than any Aave specific negative event.
Aave had just broken out of a long consolidation, pushing above a multi-week resistance zone after building a base and printing higher lows.