well, I was talking about the one who is new and entered at the market at 70K, definitely there could be lot of people at that time entered into the market because bitcoin was so hyped when it was happening although some may have retained what they bought but most of them who just thought of quick money called themselves as investors entered might likely exited when the price went down.
Exactly many investors will have choose 70k$ of price to invest in Bitcoin because the price was going to be higher and higher that time and people were afraid for missing out the chance of buying therefore they choose 70k$ for buying some Bitcoin so now they cannot sell their Bitcoin until it goes back to its ATH and if they will sell now then they will be in loss.
The real investors are those who are not going to invest when the price is surging but they wait for the accurate timing in which price is lower so they can easily buy their desired coins otherwise if someone prefers their greed and doesn't think about their future then they will surely be in loss.