The trending channel has been broken, this does not look like a false breakout, as the market has been actively flooded with positivity before the correction begins. Everyone who wanted to buy has already bought. The breakout of the channel opens a downward movement by the magnitude of the channel itself, and the target is around $87,000. For $BTC , this is not that much, about 20% from the peak, but the altcoins should ultimately fall by 30-40% from their peaks, as they are actively being longed on futures.