I guess all of these latest increases in bitcoin has finally caught up with us, there is no way that bitcoin could ever be this low without people giving up on it. I am assuming the reason why people gave up on it is the fact that we couldn't go up. We have tried to go above $12k for a long time and in the end we failed over and over again so eventually buyers turned to sellers because they couldn't make more profit when they bought so they gave up.
That could be the reason, but maybe in time, bitcoin will start breaking $12k and pump to a higher region.
As per this exchange,
https://www.bitfinex.com/t/BTC:USD?refcode=H70YTMupQ.. bitcoin price already went down below $10k in the last 24 hours, so it could be a sign that we are going bearish again, but on the other hand, it's also possible that we will pump from this low price.
If it goes bearish of course it might be because the market is in a heavy dump right now and will it continue below the 10k bearish market? recovery now seems like it will be difficult to see things like this a lot of news continues to speculate about the price of bitcoin, but nothing is certain, but the point remains for investors not to panic when seeing their portfolios sometimes there could also be their mistake to sell urgently.