Lots of people saying the bull market is over and we're in for a crypto winter. I think this is plainly obviously not true for numerous reasons.
How long until these people realize we're still in a bull market and market sentiment shifts from "oh no bear market" to "oh that was just a major correction"?
I honestly think that both cases are pretty much equally likely.
The market sentiment has shifted to bearish whether you want to admit it or not. Depending on whether the $30k support or the $40k resistance gets breached first, the price action can vary significantly.
We simply don't know how the market is going to pan out in periods of extreme volatility like these. The level of FOMO but also fundamental growth are both in uncharted territory, and anyone who claims that they can predict the future is likely speaking out of their arse.
Market sentiment for short - medium term might be bearish, but long term it’s still bullish. Zoom out and check that Bitcoin’s price has never crashed below, and stayed below the 200-weekly SMA/EMA. If the price goes down near it, it has been a golden opportunity to buy more and HODL. Will that change in the future? Maybe, but that probability for now is low.