I think cheaper is coming too, maybe down to 22k.

Bitcoin is something of a canary in the coal mine because the smaller, weaker, more leveraged hands in the institutionals are dropping it as it is their most marginal bet, and their positions are falling towards margin calls.

It is obvious that happened at Bitfinex earlier today.

If the minnows at Bitfinex are bleeding out via margin calls imagine how deeply problematic it is for everyone who has debt and USD bonds. OUCH!

The rest of the market is gonna see it soon too. Expect non-USD fiats to crash as they are liquidated to cover USD denominated debt and largely USD denominated equities, that are on too much leverage for the rising interest rates.

The fed is deliberately squeezing everyone because they can. All fiat currencies are backed by dollars. All loans are backed by USD bonds. And all the companies that have equities are deeply indebted due to almost 20 years of historically absurdly low interest rates. Like a saggy balloon, easier to burst it if you squeeze it.