A lot of fear...

...literally everywhere. The market doesn't usually crash further when everyone is bleeding and screaming. The market gives you morphine and patches up your wound so that you fomo back in. The market will eventually go into full on bear market mode but when it does, no one, especially the newbies right now will be dumping their crypto so hard. April experienced a whole month of selling in anticipation of FED meeting and the Russian Federation's annual May 9th parade and what Putin might say or do. Well, markets priced in the worst case scenario which is fair given what Russia is doing to innocent people in Ukraine.

But it could just turn out to be a nothingburger.

Maybe we fall another $1000 or $2000 to $32,000 per BTC but I see a possible reversal short term. The bear market WILL come when no one expects it, not when everyone is talking about it, including the media and expert analysts.