After the FTX tragedy and the market crashing down, FUD is still popping up about another big CEX bankruptcy which is getting worse for the market conditions, we don't know how this will end, but we always hope for the best for all of this.
The market is just waiting on another news to dump further, the market has been very paused for some weeks now and it seems it's waiting for another negative news to dump since the good news aren't making any impact on the market. If another popular exchange was to go bankrupt, I don't think Bitcoin and the market in general will be able to hold its previous support. We could even be seeing Bitcoin trading below $10k and that'll be very devastating considering the price mark we were trading just one year ago.
Personally I think this bear market has gone on for too long, we should have be recovering from the previous dump by now and not anticipating further dumps. But that's not the case as more dump are likely to come which the charts are suggesting.