Bitcoin (BTC) is currently undergoing a significant market correction, according to a cryptocurrency analyst and trader known as Rekt Capital. In a video for his 73,400 YouTube subscribers, Rekt Capital explains that this correction is typical before the halving event. He points out that Bitcoin has been in a danger zone for about a month and has already experienced two pre-halving retracements. However, based on previous Bitcoin cycles, these corrections usually pave the way for a bullish phase. Rekt Capital believes that Bitcoin is approaching a reversal point, with a potential 20% pullback being a positive sign for the cryptocurrency. Although the exact bottom is uncertain, he anticipates that extreme fear will precede a financial opportunity. As of now, Bitcoin is trading at $62,405.