People who believe it as the sign of the beginning of bearish market isn't totally wrong. BTC price has decreased very significant and it already happened for several months. In this matter, it is normal if people assumed we are probably entering the beginning phase of bearish market. This time, only a few people who still believe that BTC to achieve $100k as predicted before. Most of them feel scary to see the market trend and starting to sell any coins in their wallets. This action actually support more the bearish phase and we may be more away leaving the bullish phase.