Recently, everyone’s been talking about the drop and the consequences of $20 billion being liquidated. But after this continuous decline, another consequence has emerged: trust. The massive surge in $BTC from last year until now couldn’t have happened without institutional involvement—it wasn’t driven by retail investors. It was institutions, including ETFs and publicly listed companies, that kept buying and buying, pushing the price higher and higher. These institutions and companies didn’t buy just because they were optimistic. The reasons are complex, involving hot trends and more. But now, during the topping process in the U.S. stock market, just a small piece of news or an event has caused a $20 billion wipeout in such a high-market-cap sector (rumored to be over $40 billion in reality). What does that even mean? Where’s your digital gold? Where’s your stability? So, a lack of trust starts to build. As distrust accumulates over time, those who are losing money or sitting at their cost price start considering selling. $10K is a critical threshold, an important psychological price point. Let’s hope some mysterious big players step in to hold the $10K line. If this $10K threshold gets broken, I’m afraid it could trigger an even deeper sell-off.