Bitcoin Ethereum Price Pullback Follows Record ETF-Driven Rally

Bitcoin and Ethereum experienced a mild pullback after reaching record highs, with Bitcoin slipping to around $123,877 and Ethereum trading near $4,562. This correction is viewed as healthy by analysts, reflecting profit-taking and short-term market cooling following strong gains driven by institutional inflows, ETF demand, and a weaker US dollar. Prominent analyst Michael van de Poppe anticipates a short-term correction for Bitcoin below $121,500 before it potentially surges to $150,000, highlighting support levels near $119,500 to $120,000 as ideal buying zones. Ethereum’s network activity remains robust despite a slight price decline, with the upcoming Fusaka upgrade in December expected to enhance scalability by improving Layer-2 validation and reducing node storage pressures. Long-term sentiment for Bitcoin remains bullish, with major banks forecasting prices between $165,000 and $200,000, underscoring growing institutional adoption and Bitcoin's increasing status as a safe-haven asset. Meanwhile, traders are also focusing on emerging crypto projects, signaling ongoing interest in market opportunities beyond the major coins.