What do you think is going on?

I donno, I am too depressed to think clearly.
Nahhh, if we kind of forget that the price bubbled too fast to $19K as if it didn't happen yet... we are doing great.
Of course it is not that easy to forget it AND many newbies got burned (as it happens on EACH AND EVERY cycle) so they are all fucking scared to enter right now. Lots of money that is waiting until they feel it is safe "out there".
Fundamentals of crypto and Bitcoin in particular are way better than ever with the most cutting-edge improvements taking place in this year but...
C'on we all expected this correction even sooner than it happened!
I don't think big whales are dumping... but they are probably not gonna pump either until they make completely sure remaining weak hands are not gonna dump onto them.