Most whales are probably extremely happy for what it is happening, it seemed that we have left the 40k level for good and now we are back below it so while this can be bad for small investors like us it is great new for whales looking to enter the market at reasonable prices once again.

Now it is debatable how long this is going to last, the altcoin market is responsible for this drop and bitcoin is going down because of it, but give it enough time and bitcoin will recover and leave altcoins on the dust again proving once again that when it some to this market investing in bitcoin is most of the time the only correct choice.