It's not the price that shows the severity of a crash but how fast and by how much it fell from the top. A fall from 5k to 3k would by no means be considered severe. A fall from 70k to 18k is really much worse. Some of the indicators we're talking about are the moving averages, number of red weeks in a row, volume of liquidations, the price being at the level of miner capitulation, which is the point where miners can no longer afford to hold their coins but instead sell everything to cover their bills, bitcoin being below the previous bull market high for the first time in history, and many more.