What do you mean with the crypto balloon is popped? The bitcoin price dropped below 17k USD and now everything is over? I don't think so, this was only a minor setback and the market will recover soon again. I can understand your frustration about the short term traders and speculators that make the bitcoin price so volatile. Unfortunately I don't see any chance for them to leave the market.
Prices could fall back to 3000 USD and many investors would be hurt, but with such a low price investors would start buying heavily again to bring the price back up. A stable bitcoin market would make many things much easier, it just doesn't seem very realistic at the moment. The big problem is also that many people bought their coins above 20k USD, so if the price would ever drop below 10k USD I am sure that many people would never consider selling. Personally I would rather keep my coins until eternity and leave them to my family than to sell them at such low levels.
bitcoin value (not price) has been $15k for alot of 2022
the bitcoin market has been testing prices above this. and yet has not actually pushed prices down enough to sway/push value down.. (not scared the markets or mining to crash value)
even FTX drama this week has not caused huge drops/crashes.. in comparison to normal price variance of the last 6 months
all of this is helping prove the value support of $15k+ is strong and that the markets dont want to drop to stupid amounts you quote like $3k/$10k
the markets have tested lows this year via many speculative negative events (luna/ftx/elon)
if big events like FTX cant kill prices in half or quarters. then that helps show how strong the market is supported at the $15k rate of value underlying the markets..
2022 has shown to be a market average of $20k with speculative swings above and below of +/- 20% either side ($24k-$16k)
we have seen a $17k in previous months and this weeks $16.5k is no different to "norm" acceptable swings.. this is a sign that FTX cant even kill the markets, and thus cant kill the underlying value supporting the markets
all of this is a good sign