If you really want to explain 'why Bitcoin dropped so much,' you can always find a reason... As long as you're willing to dig, you can see explanations from all angles: liquidity issues, macro data, ETF outflows, options imbalance, on-chain metrics worsening, X dumping, Y running away... From things you can understand to things you totally don't get but seem 'deep,' it's all there... But... right, it's a bit late now. Should've just avoided holding the position back then...