Analysts expect traders to take a breather after the crypto's recent rally.
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Bitcoin and ether remain well bid as U.S. senators reach a compromise on the crypto provision of the infrastructure bill.
Some analysts are optimistic about the broad crypto rally and see further upside, especially for ether.
Ether is up 3% over the past 24 hours.
Pays average price of $2,780 for the digital currency.
The price move extends the second-largest cryptocurrency's stunning rally this year: It has tripled already in 2021, amid trader enthusiasm over growth in blockchain applications.
The ether rally appears to be more organic and driven from within the crypto industry.
Bullish price activity has tipped the total value of ETH locked into Ethereum 2.0 past $2.4 billion.
The price of bitcoin and native tokens for other stablecoin-supporting blockchains jumped after the OCC approved banks to use public blockchains.