Bitcoin Hits New Record High, Ethereum Follows with Major Pullback

Bitcoin reached a historic peak on May 21, 2025, surpassing $109,767 USD and setting a new all-time high. The surge followed a strong rally driven by institutional investment and the growing acceptance of spot ETFs. However, this excitement was short-lived as Bitcoin experienced a sharp correction, dropping around 3.5% to reach $106,000. Ethereum, which had briefly reached $2,616 earlier in the day on optimistic sentiment surrounding Web3 development, also saw a decline, falling roughly 5.3% to trade around $2,480. This rapid price movement caught traders off guard, particularly those using high leverage strategies.