First of all, this panic selling may be related to broader market sentiment, such as concerns over interest rates, inflation, or geopolitical uncertainty. Stock market crashes typically trigger a flight to safety, leading investors to liquidate high-risk assets, including cryptocurrencies. Bitcoin's high volatility makes it susceptible to severe price corrections in such situations. However, if the fundamentals—such as blockchain adoption rates, institutional interest, or supply reduction (halving effect)—do not significantly deteriorate, this drop may just be a short-term oversell rather than the beginning of a long-term trend.

From a technical perspective, Bitcoin breaking below $80,000 may have breached a key support level, which is a bearish signal for short-term traders. But for long-term holders, this pullback may be viewed as a buying opportunity, especially if they believe in Bitcoin's long-term value proposition. Historically, Bitcoin often rebounds after significant drops, although the timing and magnitude of recovery vary by event.

As for the next steps:

Buy: If you believe this is a temporary adjustment and have confidence in Bitcoin's long-term potential, now may be an opportunity to accumulate at lower prices. But be cautious of further downside risks, especially if the macro environment continues to deteriorate.

Hold: If you already have a position and are not in a hurry to cash out, sitting tight may be a wise choice. The market may fluctuate further before finding a new bottom, and patiently waiting may help avoid emotional decisions.

Wait and see: If you have not entered yet or have limited funds, waiting for clearer trend signals (such as price stabilization or easing macro pressures) may be the safest strategy.

My inclination is to wait and see while closely monitoring market dynamics—such as U.S. economic data, institutional fund flows, and sentiment in the crypto community on X.