Crypto market opens the week with a pullback, but analysts say not to worry

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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