$BTC When the price starts to drop sharply, a snowball effect occurs. Fearful investors, especially beginners, decide to "save what they can," and start selling their assets en masse. Stop orders are triggered, margin positions begin to close, and the market pulls itself into a decline. Over a few days, Bitcoin can drop by several thousand dollars, and panic only intensifies. Against this backdrop, many recall the ghosts of the past — such as the sharp crash of 2018 or the recent FTX collapse — and begin to act out of fear.