First, the paper hands sell on the FUD that China is banning Btc, which is not true. Miners are collateral damage in the coal mine disruptions, which led to a power outage.
Whales enhance the selling by stop loss hunting. Stop losses gets triggered, increasing the selling pressure. Do not forget that whales purposely do this so they can buy at cheaper prices!
All in all, this is healthy for btc price in order to get a prolonged bullrun. Liquidating the greedy degens who trade with high leverage.
Anyway from a technical analysis perspective, this was a likelihood, as the price was going in a downward channel/pennant. If it broke down, 52k was the target.
After this dump, btc price will rebound to ATH.
52k is the lower range where this dump can go. BUY THE DIP!!!
My prediction 75k end of April!