Ethereum

Bitcoin

Arthur

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The cryptocurrency market is currently experiencing a severe correction that caught many market participants off guard just days ahead of the much-hyped halving event.&nbsp;
However, prominent macroeconomist and trader Henrik Zeberg is&nbsp;<a href="https://twitter.com/HenrikZeberg/status/1778862133146460346" rel="noopener noreferrer nofollow">convinced</a> that Bitcoin is actually poised for "more upside."
<h2 id="a-disastrous-price-crash">A disastrous price crash&nbsp;&nbsp;</h2>
Earlier today, the price of Bitcoin, the world's largest cryptocurrency, collapsed to $65,086 on the Bitstamp exchange.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At press time, it is trading slightly above the $67,000 level after paring some losses.&nbsp;
Ethereum (ETH) is performing even worse than the largest cryptocurrency, collapsing more than 10% over the past 24 hours.&nbsp;
Roughly $735 million worth of crypto has been liquidated over the past 24 hours, with long positions accounting for virtually all of this wipeout ($668 billion), according to CoinGlass <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">data</a>. &nbsp;
Cryptocurrencies declined in tandem with US stocks due to growing geopolitical risks while gold saw a brief rally earlier today.&nbsp;
Due to the severe altcoin rout, Bitcoin's dominance has managed to spike to nearly 56%, which is the peak of the current market cycle.&nbsp;
<h2 id="the-halving-impact">The halving impact&nbsp;</h2>
The most crypto crash comes just days before the upcoming halving event, which is expected to take place on Apr. 21.&nbsp;
As reported by U.Today, multiple experts, including Bitmex co-founder Arthur Hayes, are convinced that the cryptocurrency is going to experience a price decline around the much-hyped event.&nbsp;
Yet, Zeberg remains optimistic due to the bull flag formation that can be observed on Bitcoin's four-hour chart.&nbsp;

Bitcoin (BTC) and Ethereum (ETH) Getting Crushed. Is Bull Run Over?

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