It seems to be a common assumption that there be down before up in bitcoinia land.

Over the years I've developed a sense that the reverse is true of the stock market.
Where T.H.E.Y. convince the people to pile in, all the while they dump on retail.  I believe we are seeing that pump before the dump in equities.  Might be wise to position one's US tax advantaged accounts to be ready for the mass approval of all BTC ETFs after the calendar year 2023, but before tax day 2024 when 2023 deposits are still eligible.