People have been saying housing prices are too high for ten years, but when they actually drop, no one steps in to buy.

BTC has been the same these past two years—everyone chased after it when they thought it was expensive, but now that it's corrected, they're all on the sidelines.

To put it simply, whether people buy or not has never depended on the absolute price, but on whether they expect to profit. When prices are rising, people will FOMO in even at $100,000; when prices are falling, even $60,000 seems like a trap.

Market ups and downs are driven by sentiment, not discounts. If no one believes there’s further upside, even the cheapest price won’t attract buyers. That’s why in a bull market, everyone rushes in, but in a bear market, bargains pile up and nobody wants them—when expectations collapse, price becomes just a numbers game.

The crypto market is even more bare, because there’s no rental yield to underpin prices; it’s all about consensus-driven pricing.