If we see that Bitcoin need to have correction and accumulation after many months of bullish since 2023, latest corrective months can be explained without any relations to Trump's chance to become an Elected President in November this year.
I completely agree with the correction explanation, but here is the problem how much fall is categorized as correction? What percentage and to what support?
We've been coming down from $72k and I personally can consider prices down to $60k to be correction which is a strong support. But as we go lower, it becomes harder to call it a correction. It starts looking more like a crash and maybe even market manipulation; speaking of a crash we just touched $57k range.
Yes, indeed, the point that you have raised is a very fair one. The term, ‘Correction’ is also quite relative and often determining the magnitude is not always an easy task. Here there is no such expectations regarding certain percentage, though, there is a general opinion that correction is made when the price drops to between 10/20 % of the new high. To them, anything below 20% they may perceive it just as something more severe like a manipulation in the market or a crash.
Therefore, you were right by defining the decrease from $72k to $60k as a correction when $60k was a solid support level. Hence, further decreasing the rate down to $57,000 triggers some doubts, if it's still actually still a correction, or if it's now a crash or some manipulation as has been mentioned by you here also.
However, it is important to note that the cryptocurrency market is very volatile, and changes in their prices are quite common as they're being triggered by various factors. Some of these factors include change in market, regulations or the state of the world economy as regards to prices.
It is therefore important that in one's analysis, one should incorporate more technical things like the charts and trends as well as more fundamental factors like the news and market sentiments. Collectively, these techniques could help investors make better choices to a certain degree.