You can think of it like a magnet, which has a force that pulls and attracts or repels other magnets. So each time when it was cycle wise the best time to buy Bitcoin*, but this opportunity was sold off, then market repelled with maximum force the uptrend direction. Which then resulted in a strong downtrend. This might be again the case, at least for a few days here, because we just had another kiss of death today.
* as signaled by Tenkan-sen (Conversion Line) (blue color) crossed above the Kijun-sen (Base Line) (red color)
This recent wallstreet otc news "COULD" be an indication that real buying is ready to enter, but so far its looking more like a PnD sell the news opportunity.