When the market quickly jumped from ~7k to 9k, I wasn't very enthusiastic about it, because it happened so quickly without any clear reason, and the market was bearish for only a few months after the ATH. I expected the bear market to last way longer, and maybe right now we are returning to it. People tried to bring back the hype by claiming that Bitcoin will go to $50k or higher within a few years, and maybe it will happen, but I feel like now is too early for a bull run. On the other hand, this can be just a reaction to bad news, we've seen it happening with "China bans Bitcoin" last year, when the price crashed quickly, but then rebounded in a few weeks.
The China bans bitcoin was really one of the worst we've been, it was like a month or so before we have recovered by from disaster and then hits all-time-high at the end of the year. So I wouldn't be surprise if the same thing happens this year. I agree that the jump from $7000K-$10000 was very abrupt and everyone jumping for joy, and saying that the bear market is over. But if you look closely at the TA, it was overbought so most likely if will go down again as what we have seen. And then follow by bad news one after another. But I'm fairly optimistic that when everything settles down a bit, in a week or two we will see it gradually bouncing back around $8000. No need to panic here and we all know how this market works and reacts.
