Let's see $25k first before we talk of a upside to $20k'ish or even lower. But I would agree that the high fees that we have seen this week might be a trigger why the price suddenly goes down from $29k->$26,700.

Maybe it frustrates some newbies to push the sell button and then hedge it to something like stable coins or other crypto. But if you look at the mempool, it's not as clogged as before. And maybe those who are spamming the network has really bad intentions in the first place, to create this chaos that we are seeing right now. Obviously, as who is to blame? it's the ordinals and inscriptions and BRC-20 clogging the network with their intentionally low transaction but high fee tx.