The current dead-cat bounce has run out of steam. Prepare for a repeat of testing the lows of below $300 ~at the end of October. The next halvening of block rewards is still a long way to go, a lot of inflation is going to hit the Bitcoin ecosystem between now and then, which is reflected in the price.
That is a very relevant observation. I share your views. The price just cannot stay above 400 USD under these conditions. We will prick around 300 USD for months. If we break the 270 USD resistance then all hell might break lose, seeing BTC under $100 is not a joke anymore but a realistic option.