Cryptocurrencies pulled back Monday, erasing some of the gains posted last week. Despite this, bitcoin and ethereum managed to stay above key levels. 

Bitcoin lost around 6.5% over the past 24 hours at time of publication, posting an 8% decline from its highs last week that saw the token soar past $44,000 for the first time since April 2022. The largest cryptocurrency was still trading above $40,000 on Monday. 

Ether similarly declined, losing more than 7% over the past 24 hours Monday afternoon in New York, but managing to hover around $2,200. 

“It looks like this is a leverage adjustment, which can be painful but is usually good news,” Noelle Acheson, author of the “Crypto is…

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