I am not sure why its difficult to understand. The elon mask pumped bitcoin to only 38,000$ but in the month of January we hit 42,000$ (without any elon mask influence) and now back to 33,000$. This big monthly wick is a bearish sign ( i hope i am wrong and we stay in bull market always).
You (like many others) look at only one small piece of the puzzle, and completely omit the bigger picture. EM is completely irrelevant in this story, it’s a pure coincidence and nothing more - but if people want reasons for every price change, they’re very easy to find.
The current price is a reflection of supply and demand, and those biggest investors like Grayscale stopped investing late last year, while at the moment they are buying significantly less than before. When and if large investors re-engage in the purchase of BTC, prices will surely rise again - and until then we should be satisfied that we have a stable + $30k.
Your hopes for the
bull market always are completely unrealistic - there is nothing that only achieves growth without occasional adjustments.