Many just didn't expect it that early.
But I sure hope we will see a rebound in no time, for now, the index of fear is pretty big, however, it shouldn't discourage us from our goals

It is not a fear index but only about the level of panic that is happening to most people who still hold Bitcoin until now. But on the one hand I am also still convinced of a huge recovery in the price of Bitcoin because at this time Bitcoin enthusiasts are still much more than others so we all should not panic or be afraid of the current decline in the price of Bitcoin. Because this year Bitcoin still has the potential to return to its highest price so for now Bitcoin holders must be more patient in waiting for this.