The cryptocurrency market has undergone a significant correction recently, with a drop of over 6% in overall market cap within 24 hours. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have seen corrections exceeding 5.5% in their values.

Bitcoin, the leading cryptocurrency, has shown strong bearish movement which has influenced other top altcoins to follow suit. The question now arises whether the crypto market will see a positive trend in April or if the negative price action will persist.

Bitcoin Price Plunges Below $67,000!

BTC ended March on a high note with a 16% increase in its value and a new all-time high of $73,754. However, the start of April saw a bearish trend with a more than 5% correction, signaling a potential reversal in the market.

TradingView: BTC/USDT

The past 24 hours have seen Bitcoin lose over 5.65% while the 7-day period showed a 6% drop. The MACD indicator hints at further bearish movement in the near future, suggesting a negative price trend for the week ahead.

Altcoins Witness Panic Selling!

After reaching overbought levels in the lower time frame, many major altcoins within the top 100 cryptocurrencies faced corrections in their valuations. The increasing volatility in these tokens led to panic selling and a market-wide correction.

Source: CoinMarketCap

Several altcoins had recently hit new all-time highs, causing a surge in volatility and a FOMO-like situation. The resulting hike in price action ultimately led to the significant market correction.

Is This The Right Time To Invest In Cryptocurrencies?

The recent introduction of the Bitcoin Spot ETF has been a significant catalyst for the market, enabling BTC to hit new all-time highs. Additionally, Ethereum has shown bullish price movements, indicating growing investor interest in altcoins.

Looking ahead, the upcoming Bitcoin Halving event could trigger another bullish run before the year ends, presenting a lucrative opportunity for long-term investors to maximize their gains.

Note: It is crucial to conduct thorough research before investing in cryptocurrencies due to the highly volatile nature of the market. This article serves an informative purpose and does not promote any specific investments.