Well that is really through. The issue here is that the climax of bitcoin to 20kUSD really drew the attention of majority who knows nothing about how the crypto world works. Perhaps, the entered to invest into bitcoin with the motive of gaining profit but has turned them down. These are the people who panic when the price of bitcoin goes down.
Definitely, the $20k price last December has drawn people to invest in Bitcoin without thoroughly knowing its behavior. At its current price, panic selling happened to investors who did panic buying. Managing Bitcoin is critical because investors need to be logical rather than emotional to ensure profit. Else, great loss will be experienced.