The anticipated correction in Bitcoin has finally arrived. Bitcoin is losing in the 10-15% band as of morning hours. Both the increase in mining rewards and the transfers to stock exchanges in the whale accounts we mentioned in our Crypto Zoom post last week were foreshadowed. At the same time, we see an image similar to the miner sales before the 20 thousand dollars break in Bitcoin. While the circulating BTC supply for 1 week to 1 month increases, the circulating supply for 1 year and above continues to decrease for 5-7 years. Either there are individuals who are new entrants and are afraid of staying at high levels, or a situation that does not want to stay at high costs and tries to realize the BTC rewards they have earned in exchange for mining.

When we consider BTC / USD technically; The parabolic trend that has been formed since 12 March continues. On the other hand, the linear trend that has existed since March 11 is also crossing the $ 31,000 level. While BTCUSD is currently at the level of $ 33,000, we see that investors are talking about these regions as bottom and the purchases at the level are tightening here. Technically, we support the correction zone.

Is the Ethereum and altcoin season starting after the fall in Bitcoin? was the first comment that came to our mind. Although Ethereum is down 15% this morning, it remains above $ 1000. With the amount held in DeFi (decentralized tokens) and the fact that ETH remains discounted compared to BTC, the decline does not worry us for now as it does not fall below $ 900. In the last 24 hours, there was a 6% decrease in the number of new addresses and a 3.5% decrease in the number of active addresses. Along with this, the increase in mining rewards was also seen, with an astronomical increase of 50%. All of these are negative news for ETH, but if it is experiencing the worst, we can say that it is likely to recover from this point.

When we consider ETH / USD technically; The $ 995-1000 zone, which coincides with the Fibo 38.2 retracement zone, was a strong support. Numerically, we can even call it our new psychological support. Exiting the old bullish channel and breaking the triangle formation, ETH / USD was able to catch the $ 1345 part of its $ 1400 target. The aftermarket pressure from Asia pushed it up to $ 1000. On the other hand, if these purchases, which are caused by the reaction in ETHUSD, which encounter buyer support in the $ 1000 region on the hourly chart, accelerate, the psychological effect of the altcoin season may start.

The Central Bank of the Republic of Turkey (CBRT), a central bank of digital currency (CBDC) explores the Avalanche project to develop rhetoric AVAX / usd2y was animate. However, before the rhetoric, the increase in AVAX prices raised doubts as to whether the backstage news spread.

While the AVAX / USD parity retreated by 8% following its sharp rise as of January, it is priced at $ 6 at the time of writing. The parity, which we consider to be shallow in volume, is more likely to see sudden rises and falls compared to leading crypto coins.

The XRP / USD pair is pricing around $ 0.27 with a 13% retracement in daily changes this morning. It maintains 13% profit in weekly returns. XRPUSD, which has had a rapid rise since January 6th, has surged to levels of $ 0.37. Although the XRP / USD pair created upward pricing following the reassuring statements of the Ripple CEO, it could not survive the sales brought by both the general market and investor concerns, and fell to $ 0.24.

If we examine the XRP / USD parity technically, the downside pricing after the completion of the double bottom formation caused a retest of the $ 0.24 critical level. On the general view, it seems difficult to talk about a positive trend unless the pair is above the $ 0.44 band, where the major trend is still down. During the times when cryptocurrencies were generally on the rise, XRP investors were closing their days while seeing the market green. Now, the general spread of the seller state caused the second wave of sales in XRP. Still, the minor uptrend technically composed of $ 0.15 bottoms continues through the $ 0.24 zone. Therefore, as long as XRP does not fall behind $ 0.24, it can continue its uptrend.

The LTC / USD parity is priced at $ 135 with a 20% loss in the morning hours. The harsh pioneering corrections of Bitcoin have also negatively affected Litecoin, which has a high correlation with Bitcoin, causing it to take sellers. Its losses were harder due to the higher correlation of BTC, whose volume is shallower compared to Bitcoin. After the announcement of the MimbeWimble update on Litecoin, one of the biggest 5 altcoins, with the decrease in the demand for Bitcoin and the decrease in its dominance, it was announced that 5 billion Flare Airdrops will be distributed in the data published by the Flare Network. When the same Airdrop was previously announced for XRP, increasing investor demand created record prices for XRP.

When we examine the LTC / USD parity technically, we see that the price breaks down the $ 147 channel lower band and separates from the rising channel. However, if he returns to this area within two days due to the two-day rule, the bearish remains a correction. Although pricing occurred below the $ 143 support, which we define as the critical level, Litecoin remained above the $ 143 level in the 4-hour closing. Unless Fibo'23.60 support ($ 118) is broken and pricing below $ 143 is realized in the pair, which has experienced strong recoveries after strong decreases, it can continue to rise within the channel boundaries and test $ 190 levels again. For now, we will follow the important resistance-support levels in the pair, which is still trading.

The LINK / USD pair is pricing with a 10% retracement at $ 14.4 this morning. The overall market outlook also caused losses for Chainlink, with the major downtrend pricing below its upper limit. Although it has rising lows in the short-term outlook, it can be priced within the boundaries of its descending trend, unless it creates support above the $ 14.4 level. Critical levels will be followed in the technical view, if there are movements above the Fibo'61.8 correction level, there may be rises and new records for the link that we see its potential as high and we like the project. Critical response levels will be followed for the pair, which is currently under a weak appearance.

Although there is a rapid retracement after the BATUSD parity is seen at $ 0.259, the $ 0.21 zone is currently working as support. However, while the technical movements of BAT levels are experienced hard due to the low volume, it is useful to be cautious with the breaking of these supports.