Cryptocurrency Market Experiences Correction Amid Risk-Off Sentiment

The cryptocurrency market is experiencing a correction, with Bitcoin (BTC) trading below its recent high of $79,486. Ethereum (ETH) and XRP are also facing increased downside pressure, with ETH hovering below the pivotal $2,300 level and XRP bulls losing grip on the $1.40 support.

The correction in the market is largely due to risk-off sentiment returning, with ETF outflows totaling $263 million on Monday. This comes as investors remain cautious, limiting exposure to risky assets, according to the Fear & Greed Index, which fell to 33 on Tuesday from 47 the previous day.