Crypto Market Corrects as Investors Take Profits

The cryptocurrency market is experiencing a correction on Monday as investors take profits following last week's rally. Bitcoin (BTC) has edged lower, struggling to break above $80,000, with immediate support at $77,000.

Ethereum (ETH), on the other hand, holds above short-term support at $2,400 but lags upward momentum toward the next key resistance at $2,600. Ripple (XRP) hovers around $1.48 as its momentum cools down after a 72% surge last week from $1.00 to highs around $1.70.

Bitcoin and Ethereum spot Exchange-Traded Funds (ETFs) recorded significant inflows last week, totaling $1.92 billion and $697 million respectively. This marks the largest inflow volume since October, underpinning improving risk-on sentiment. Cumulative inflows now stand at $53.71 billion for Bitcoin ETFs and $12.15 billion for Ethereum ETFs.