#Crypto Market Pullback#

The cryptocurrency market is experiencing a significant pullback after reaching record highs in August 2025. While the total market capitalization has reached approximately $3.86 trillion, a general correction has been observed in recent days, with daily fluctuations of 1-2%. Bitcoin (BTC) has fallen 9-10% from its peak of $123,000 to around $113,500.

Main Reasons
Profit-taking occurred after last week's rally.
Macroeconomic factors: Expectations that "high interest rates will persist for an extended period" ahead of Fed Chair Powell's #Jackson Hole Meeting# speech are restricting liquidity, impacting speculative assets.
Risk-off mode: General risk aversion due to correlation with technology stocks is pulling crypto assets down.
Historical trend: The August-September periods following the halving show similar corrections.
Affected Assets and Trends
Altcoins like BTC and Ethereum (ETH), and XRP in particular, are declining; However, Chainlink ( #LINK# ) is showing resistance with a 9% daily gain. This could create buying opportunities as it approaches support levels ($108,600 for BTC) in the bull market; institutional investors are accumulating.

Future Outlook
Although the Fear and Greed Index is at 64 (greedy), the 2025 bull run could continue with institutional demand, such as ETFs. Investors should be patient with volatility and monitor whale movements (e.g., ETH purchases). Powell's speech is critical in the short term; optimism prevails in the long term.