Bitcoin falls to 60,000 USD? Why is this round of big dump more strange without any explosion?

[Block Rhythm] Recently, the sell with bearish market in the crypto market has been a bit fierce. Bitcoin is leading the way down, and the entire high-risk asset zone is suffering - those money-burning tech companies, SPAC shells, and various Meme coins are all no longer appealing.

The Chief Investment Officer of the crypto finance company BNB Plus, Patrick Horsman, stated bluntly: “Investors are increasingly uneasy about the economic outlook, and now they are busy deleveraging. He even predicts, 'Bitcoin is likely to pull back to $60,000, and this pain is not over yet.'”

To be honest, such drastic ups and downs in the coin market are nothing new. Looking back at every round of “encryption winter,” Bitcoin and mainstream coins often see an 80% drop. The wave in 2022 is a vivid example. In the past, every time there was a significant fall, it was often linked to industry fraud scandals—investor confidence collapsed, and the market naturally fell apart.

But this time it's a bit different. It is both a relief and a strange feeling that, while the market is plummeting, there hasn't been a new incident like Mt. Gox or FTX. In the past, it was the collapse of major platforms that triggered a chain reaction; this time it seems purely to be market sentiment at play. Is it just a rotation of risk assets? Or is it the calm before the storm? No one can say for sure.