After a bearish April, Bitcoin is facing a significant market sell off, causing a drop in market cap by over 6% in the last 24 hours, now resting at $1.13 trillion.

However, top market analyst Michael van de Poppe remains cautiously optimistic, suggesting that bitcoin’s correction might be nearing its end.

A Potential Rebound

Notably, Bitcoin has recently plunged to the $56,000 mark, its lowest level since February 28, underscoring the severity of the correction. As of the latest data, its price stands at $58,800, marking an 8% decrease since May 1st.

Several market experts are coming up with their predictions on BTC’s next move amid rising uncertainty. The…

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