Well, these are the numbers:

BTC 50% Prices of 2021

ETH 60% Prices of 2021

BNB 53% Prices of 2021

Total market capitalization 2.15T value of 2021

Beyond the macroeconomic uncertainty, which is no small matter, there come the midterm elections for Trump, which increases the uncertainty, as it will be decided how much more the US debt will expand and whether interest rates will drop. Furthermore, if the results are positive for Donald, he will be able to move faster regarding what needs Senate approval.

I have a theory that everyone is pulling out capital now (beyond the fact that it is cyclical) to take advantage if conditions are favorable to invest large capital at oversold prices.

On the other hand, another conclusion is that if the barrier of 60k, which is a very strong psychological barrier, is broken, the price will likely drop to around 50k~45k before the first quarter closes. It is more attractive for everyone to buy at those levels, which means dropping 20%~25%, than waiting for it to reach 90k~100k, which seems like more distant territories (and means an almost 80% increase).

In short, no one wants to lose, institutional money is no longer flowing, and leveraged longs are scarce and under pressure. So, we are left as the musicians of the Titanic.