There are deep blue oceans of money in the world looking for place to go, where are they gonna go if not crypto? To stocks, gold, fiat, real estate bubbles? Dont fool yourself, its all going back to crypto. Every last cent and more.
More actually, especially if a clear regulatory stance is taken as soon as in today's SEC meeting to clear the air for the real investment capital wanting on in the crypto market but so far has abstained out of regulatory uncertainty.
This.
Every single person in and out of crypto was wishing for a price drop at 10k, 15k, 20k and guess what? We got it and now people are shitting themselves and selling alts sat cheap and selling BTC fiat cheap.
The whales sold the top, then pushed down further and now there is a seemingly coordinated negative social media/media campaign targeting crypto and BTC I think this timing is no coincidence.
Us small fish, crabs etc should not be selling now. Selling should have been done over 10k, if you
need the money it should not have been in crypto in the first place and if it's your job you should have 3 month reserve in fiat otherwise capitulate and sell as there could be a sustained bear market now for some time.
Some of the admins in whalepool called 5k nearly a month ago and the sentiment on tradingview was bleak so some prep should have been undertaken.
All being said this is good for crypto in general, all will fall now but only projects with value will rise again leaving shit coins, well, in the shit where they belong.