I think the price reduction of bitcoin is a normal phenomenon, it is a very normal adjustment.
A lot of people saw a lot of falls, and they said they broke, I don't think so, I think of it as a correction, so it's better to go up.
A 30% drop doesn't seem like a normal adjustment to me, seems like either market manipulation or a panic sell.
What's the difference between a normal adjustment and a panic sell?
It's normal for markets to overvaluate assets, only to crash down and undervaluate them at a later time. Bitcoin is no exception and much more extreme in terms of price movements, both up and down. I know we've been spoiled by the recent bull market, but the price fluctuations Bitcoin has gone through have been much harsher in much shorter timeframes just a few years back. The reality is that Bitcoin is still a highly speculative asset with little comparables for gauging the "proper" price level leading to the volatility we still see today.
There might be large scale market manipulation at play, but if that's the case it likely was the cause of the recent bull market as well, not just the crash.