BTC pulled back by 0.5% on Tuesday, May 12, settling at $81,725. ETH followed suit with a more pronounced drop of 1.2%, reaching $2,340. Despite this minor setback, BTC still holds a 2.4% gain for the week, indicating that the underlying trend remains positive. Trading volumes were lower compared to the previous day, suggesting a wait-and-see approach from investors.
This moderate correction can be attributed to profit-taking following Monday’s rebound. Investors who bought during the recent dips around $78,000 likely chose to secure their gains. Furthermore, traditional markets were mixed on Tuesday, with hesitant U.S. indices weighing on overall sentiment. The U.S. dollar strengthened slightly, which tends to curb risk assets like cryptocurrencies. For now, there’s nothing alarming: BTC remains well above its key moving averages. Analysts note that volatility remains contained, which is often a sign of healthy consolidation. If BTC manages to hold the $81,000 level, the probability of a retest of $83,000 is high. The coming days will be crucial to confirm if this upward phase is sustainable or if the market needs a longer breather.
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