Bitcoin is being fucked by derivatives, but that doesn't change any of the fundamentals. Stay on the sideline (hodl) and buy when you can.
It's nothing new. We have seen so many times Bitcoin even in more worse scenarios like this. I am confident that Bitcoin will recover some day.
I don't care. Those who deserve Paper-Bitcoin should "have" them, i got no problem with that.
Bitcoin is Bitcoin for what it is, not what "the market" tries to make of it.
Patience.