In my opinion, it looks like the price of bitcoin has the potential to drop to the level of $30k because throughout the third week of February the price of bitcoin has returned to the level of $35k. In the current drop in bitcoin price, liquidations have been lower than expected. The current liquidation volume is much lower above the volume that accompanied the previous gains. This can be a very important indicator for the market to continue to experience price declines.
I still see the price dropping below $30k as difficult, as there are still many large institutions currently continuing to invest in bitcoin. Microstrategy, for example, they continue to invest in bitcoin when the market dips, and it will continue to make bitcoin still have good demand even though it is in a bearish state.