I think this decline is because of the spreading of the new Omicron strain of the Covid-19 virus. I do not find any reason to panic as crypto has seen worse conditions than this. I am expecting a bullish movement in the coming New Year.
The current bitcoin price correction is actually still a natural thing, the correction that occurs is part of the market that we can't avoid, but even so, we can still take advantage of the current bearish phase by buying at a low price or buying the dip, I also think if Currently the Omicron variant is causing fear for the whales if maybe later the virus variant could greatly affect economic activity globally, just like when the corona virus first appeared and if I'm not mistaken, market conditions also deteriorated.