After a robust week fueled by positive macroeconomic signals, major cryptocurrencies face a pullback as traders cash out and market attention shifts to key upcoming catalysts.

Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) each declined over 5% within the last 24 hours, reflecting a wave of profit-taking following last week’s strong rally.

The crypto sector had risen alongside traditional risk assets amid easing geopolitical tensions and encouraging economic data, but early signs suggest some overheated assets might be due for a breather.

“Bitcoin remains capped near the $104,000 level for a sixth day, showing rotation rather than a clear directional move,” noted FxPro’s Alex Kuptsikevich in a message to CoinDesk. “This behavior is typical as we approach the all-time highs set in December and January, which often mark critical turning points.”

Kuptsikevich added, “Ether continues to struggle around $2,615, failing to break and hold above $2,700, near its 200-day moving average. After a 55% surge last week, ETH is likely to pause or retrace, with a potential drop to $2,400 on the horizon.”

Investor sentiment metrics echo this cautious stance. The Crypto Fear & Greed Index climbed to 73, signaling a market that may be entering an overbought phase.

Last week’s gains were propelled by a confluence of factors, including softer-than-expected U.S. inflation numbers, strong earnings from China’s technology companies, and progress on the U.S.–China trade front. These developments lifted global stocks and fueled gains in the crypto market, with Bitcoin reaching $104,000 and Ether briefly hitting $2,700 before retreating.

“Strong earnings from China’s tech sector following the trade deal boosted investor optimism for ongoing innovation and investment, particularly in AI,” said Haiyang Ru, Co-CEO of HashKey Exchange Business Group. “Meanwhile, unexpectedly low U.S. inflation added fuel to the ongoing bull run.”

Institutional accumulation remains notable. Data from Santiment reveals that mid-sized Bitcoin holders (wallets holding between 10 and 10,000 BTC) have increased their holdings by more than 83,000 BTC in the last month.

Looking forward, Coinbase’s upcoming inclusion in the S&P 500 on May 19 is anticipated to inject fresh momentum into the crypto ecosystem. Analysts estimate passive fund inflows into Coinbase shares could exceed $9 billion.

“Coinbase’s entry into the S&P 500 historically should serve as a catalyst, with passive managers adjusting portfolios to track the benchmark,” said Singapore-based QCP Capital in a recent Telegram update. “This event could sustain further gains in digital assets as the date approaches.”

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