We're in this strange environment where it seems like there's a lot of selling trying to frontrun some kind of black swan. Whether it's a major exploit in wallets, DeFi protocols, quantum computing or another major exchange hack. There are so many unknowns and no one is giving anyone any assurances. The long term investment horizon view is getting weaker with every major exploit and hack happening in the world. Magic internet money starts feeling very risky even for long term holders. Bitcoin being "hacked" has always been in the top 3 fears of new investors, this environment we're in only makes it worse. Then add the fear of a popping AI "bubble" as the cherry on top and you got a perfect recipe for a massive fear driven sell off where even long term holders are losing conviction. And obviously the lower price goes the more serious things seem. Price going down will only exaggerate the doubt that's already there. On the other side, if price "magically" starts going up again you will see these fears go away in the blink of an eye as well. All I can say is to look at the charts and data. There will be a point where we see price stop going down on bad news and that's where you want to pay attention really closely. Personally I am holding my long term exposure as I am also diversified into other asset classes and think this will also blow over. It is another good test for the sector that's for sure.