Many people think that if bitcoin can't make ATH anymore then the downward trend will continue, especially now that most people only use bitcoin for daily trading so that the market immediately drops again when they see a price increase, and halving is a trigger that can pump bitcoin because it's proven from several successful price pump halvings.
Have you researched all Bitcoin users in this year? So you say that most people only use Bitcoin for day trading. Even though I'm more sure that at this time there are still many people who save Bitcoin for investment and don't bring it into daily trading because maybe they still believe in the next increase in Bitcoin.
In addition, the decline and increase in the market for Bitcoin is not always caused by traders, because other reasons are still very possible to make the price of Bitcoin decrease, as well as when it increases. So you also can't think like that if you only research a small number of people who might be around you for daily trading matters and the assumption that some people who don't believe in Bitcoin to make ATH again isn't necessarily true for now.