The nature of Reddit as a system means post sentiment flips incredibly drastically in even one day of price action or bad/good news.

Welcome to r/CC, people are already gloating that they were right about the bear market. This is one day of price action,reactionary to specific pieces of news, and has little to no relationship with the overall financial market. People are pointing at fears of recession in the mid term as if it's responsible for a hyper leveraged single day flash crash, and when we're still like 30% up from our previous lows.

The silent majority just upvote their confirmation bias with little to no engagement, so the overall sentiment of the sub completely flips instantly. The top comments go from bullish to bearish or vice versa as the enormous wave of people with little to no fundamental understanding of anything being discussed click the upvote button based on one day's price action.

Today we had crypto bank collapse confirmation, NYAG proceedings against ETH, and punitive tax law suggestions from the Biden administration. None of these things are a big deal, NYAG isn't federal and is targeting a small exchange, silvergate was already dead and is largely priced in, and the tax laws are targeting wash trades (good riddance) and represent at max a 3% tax on profits above 1M. Plus the laws won't even fucking pass.

When the crypto price does crash it crashes hard due to liquidations, people use an incredible amount of leverage in crypto, this isn't a new phenomenon. We're not even talking that large a liquidation series relative to what we've seen in the past. It's all waaa waaa life is over here, or we're going to the moon it's your last opportunity to buy, every time there's a price swing.

None of this adds up to anything substantial for crypto in even the medium term, tick tock next block, none of us know where the market is moving and cannot predict shit. The only thing we can know is that we've faced much, much worse and didn't go lower than 15K at that time, and that we've recovered from 99% crashes in the past, so if it does go to hell who gives a fuck if you're not done stacking.