The crypto rally took a pause on Tuesday with bitcoin (BTC) quickly pulling back from record highs above $126,000 as analysts pointed to signs of crypto rally overheating, at least in the short run.

BTC plunged below $122,000, erasing the past three days of gains and trading 2.4% lower in the 24 hours. The selloff rippled across the crypto market, with XRP (XRP), dogecoin (DOGE), Cardano (ADA) and Avalanche (AVAX) down 5%-7% during the period.

If the price action in bitcoin appears familiar, that's because it is. Despite a 31% gain year-to-date, bitcoin has given bulls very little chance to bask in their wins. Each record high has seemingly been met with a quick and viscous sell-off. Consider the first run to $109,000 just ahead of the Trump inauguration in January. That reversed lower t

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