This happens every month when over-leveraged idiots get called. The market will rebound, as always

This tends to be the week that options get called; although, as I've been observing this year, it's usually a few days earlier.

Some traders borrow from their brokerage to take a bigger position. But that comes with a trigger price that acts as a stop-gap for the brokerage. So when there's a big enough dip, someone who took out 100x leverage gets washed.

Sometimes this cascades, like in May, and the whole market tanks. Which is a good argument for not allowing 100x leverage, in my opinion.

You can take advantage of people losing their asses by making this your DCA week. If you're platform allows recurring buys, consider setting it around the 21st.