Bitcoin's recent decline of 36% from its all-time high to $80,562 is framed within historical context and potential contributing factors, such as a code error leading to cascading liquidations and a strategic market-maker selling to create liquidity. Citing Tom Lee, stablecoin depegs on October 10 are said to be pivotal. It is analyzed that a massive seller is at play. The market showed indecisiveness regarding a 25-bps decrease. The analyst also presented that 71.2% of investors are underwater. A new bull market is possible and this depends if it can reach the gold market cap. The analysis also points to a large potential of a large market maker strategically selling.