What I see in the market right now is deleveraging and and taking the risk off pretty much across the board. However at these levels the new market entrants ( and new whales like Microstrategy and Musk ) who bought in the mid-30s are getting nervous and uncomfortable, but still have not capitulated. But if markets head lower from here, we will see a real capitulations and BTC will likely head to below 20. That will be a good dip to buy!
So, to summarize, this is not a fundamental analysis, this is not technical analysis, this is my speculation on peoples emotions - right now is not the dip to buy, it is too early. Wait until the whales start puking and buy at 20 !
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