It's funny how people are panicking right now, and these are the same people who were FOMOing hard at the top.
At the end of the day the bull market was always going to be unsustainable, and everyone should have known that. There was no way that BTC was going to grow at 300% APY no matter how much people try to convince you otherwise.
People lost a lot of rationality during this bull market due to the Fed's easy monetary policy and QE. Now that is reversing, overleveraged traders will be in for a rude shock, as well as retail investors who only know low interest rate environments as the norm.
That makes sense, I was wondering why the fear index was so high when in my opinion bitcoin is not doing anything to justify such a strong reaction from traders and investors.
But if what those people are fearing is that the printing machine slows down and they are caught in a leveraged trade then it makes sense they are afraid, after all even when we are during a bull market the price of bitcoin can go down at any moment, and when that happens you better have a solid stop loss and money management strategy, otherwise the losses that can be incurred are massive.