For the crypto space, I think there's no need to be too pessimistic. No destruction, no construction. A drop is actually a good thing—as long as it drops enough, no reason is needed. Liquidity will come back. When $BTC drops low enough and goes through a round of concentrated handovers, from retail investors to whales and institutions, a new round of growth will begin. The scariest thing is when $BTC doesn't move, doesn't drop enough, and the shakeout isn't thorough. Then it's hard to see a big bull run. Break first, then rebuild.