Bitcoin (BTC) is currently navigating through a significant market downturn,
with its price experiencing a 7% drop and the total market cap down to $2.14 trillion. Despite closing April as its worst month since October 2023, analyst Michael van de Poppe suggests that Bitcoin's correction may be nearing its end. However, with the current price at $56,949.15, down 8.68% in 24 hours, Bitcoin has decreased by 20% from its recent highs, potentially signaling further downside. Van de Poppe highlights the $56,000 to $58,000 range as crucial to monitor for potential rebounds or continued decline. While Bitcoin faces uncertainty, altcoins like Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and XRP have also experienced significant drops, with Ethereum facing regulatory challenges from the SEC regarding its classification as an investment contract. Van de Poppe anticipates altcoins may recover before Bitcoin. #BTC
