Even if this year doesn't have any significant drops, there won't be a bull run and that's almost certain. From historical data as well as the macroeconomic situation…all do not support a bullish scenario this year. I even start to think that there will be no recovery at the end of the year when there is news that the Fed still wants to keep raising interest rates because inflation shows signs of increasing again.
People who feel the red market is bad because they bought at a higher bitcoin price or they don't have enough money left to buy more bitcoins. It is not always available to everyone with fiat to invest because as we all know the current economic situation is not very good.
When Bitcoin moved from 16k to 30k
we heard that bitcoin is going up because economic condition based on fiat is not good and Bitcoin is the solution. Now we have a dip and there are speculations not in favor of Bitcoin.
In theory, bitcoin was created to fight inflation, it is a viable alternative to fiat when the devaluation of fiat is getting worse. But in reality, bitcoin is being treated as a speculative investment, so I doubt that people will hold bitcoin when inflation or crisis hits. If people actually hold bitcoin to deal with inflation, then I believe there won't be any dumping.
I don't know from where bitcoin will move from here, but based on my experience with bitcoin I can affirm that this situation is very much normal and there is nothing to worry about. I am not selling my Bitcoins and so should everyone.
What's happening is a very normal thing, and I think it's just the bitcoin's movement. Bitcoin has increased, it must decrease and vice versa, after falling, Bitcoin will definitely increase. So as long as we don't sell bitcoin when it drops in price, nothing will happen to us.