Welcome to bitcoin. There will be many more days like this in the coming decade. This should be expected when the world is introduced to a new world reserve currency that is completely foreign to the average human. The road to a Bitcoin Standard is going to be extremely bumpy.
I thought I'd draw your attention toward the current hashprice, which hit its lowest point since November 2020 when bitcoin was trading around $15,000 and hashrate was about 100 exahashes lower. We warned you freaks a few weeks ago that the culmination of rising energy prices, a rising mining difficulty environment, and a stagnant bitcoin price would lead to some stress in the bitcoin mining market.
With the potential for stagflation hitting the US economy and the Fed completely out of ammo, the road is coming to an end. Truman Show style. At some point soon the Fed and the Treasury are going to try to kick the can further down the road and it is going to bounce off a wall with a road drawn on it.