Ether is pulling back to start the week, after hitting a fresh record over the weekend.

The price of the second largest cryptocurrency fell 6% to $4,548.32 on Monday, according to Coin Metrics. On Sunday, it rose to a fresh record of $4,954.81, after hitting an earlier all-time high Friday for the first time since 2021 .

Meanwhile, bitcoin was last lower by more than 1% at $111,501.74. Over the weekend, it dropped to $110,779.01, its lowest level since July 10. The flagship cryptocurrency hit its most recent record of $124,496 on Aug. 13.

Both coins have both erased their gains from Friday, when crypto assets took off with the broader market after Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts and investors returned to risk-on mode. That trigger

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