What I do not understand is why most people are so pessimistic and talk about "these hard times for *coin".
Hard times are for those people who bought BTC for $10k hoping that it will reach $50k be the end of the year.
It is indeed very discouraging to see that the value of your asset is "melting" every single day.
Though I do agree with you that bitcoin was a bit overestimated over the past several months and its current price reflects the more or less real demand.