Cryptos Tumble After New Highs, Bitcoin Down 1.4%

Cryptos Tumble After New Highs, Bitcoin Down 1.4%

Also on October 9, Bitcoin and other digital assets experienced a pullback after recent peaks. Bitcoin slipped 1.4%, falling to ~$122,494. Meanwhile, altcoins were hit harder: Ethereum dropped ~4.3%, XRP down ~3.6%, and Solana declined ~4%.
The retracement came after Bitcoin had recently broken new highs above $126,000, a rally partly driven by the so-called “debasement trade” amid concerns over fiat currency devaluation.
Analysts warn that renewed strength in the U.S. dollar and profit-taking could threaten the sustainability of the rally.