Anything is possible with bitcoin, Mt gox coins, Germany and USA dump I believe is the reason why the price is dropping.
Why buy bitcoin at 70K, when you can buy it much lower when all of these coins hit the market.
I read the news on X that is associated now more Germany has sold BTC that has been confiscated this may cause the market to crash, do not panic because if this news is over then bitcoin can recover again.
Maybe you thought when you bought at $70,000 bitcoin would go up but when the price fell, you still wonder if it will go down deeper while we don't know where the lowest point is at the current price or will go down again.