I see there is a strong correlation between SPY and Bitcoin prices. BTC has a higher beta, however. Whenever SPY tanks, BTC tanks twiiiiiice as hard, (as it was the first time, I said good byeeee)
In March, BTC dropped from $10k to $5k. I am calling for another BitCoin wipeout when the market crashes.
Not trying to be the odd guy here or acting unreasonable but I think I'll be vouching for another bitcoin correction not minding how dip it goes. I was taken unprepared with the previous that occurred days back, wiping my portfolio approximately -50% since I had early increase my altcoins holdings with hopes to trade them within the weeks in acquiring more bitcoin. I got screwed big time. In regards to your observation, the corrections we think we're observing is just as a result of the impact of the pandemic in the global economy and nothing more.
Every market whether, assets, stock or currency got hit in March and not just that you of the cryptocurrencies market so that won't be an accurate comparison. That same fate repeat itself doesn't justified that too until everything returns back to normal.