Its gonna be interesting to see BTC drop to $5K again and the defi projects fly up like how the YFI did.
There were several reasons I've read about what really is happening like the miner's exit to which they are selling it for a low price so new miners will not get ROI and eventually close down. The only reason some find it sensible is that what goes up must come down, I guess this is just investors taking profit and then reinvesting again after.