Once the Tether tap, built on assets that do not exist, is turned off - I don't see how this is possible. Bubbles only work when there are new buyers.
What brought it down from 64k is the tesla announcement, that it would no longer accept bitcoin.
I think it was China banning mining myself, and the inevitable drop in global hash rate. It’s recovering now as the rigs are coming back online in other regions.
There was a significant downtrend indicated by the growing red bars of the weekly MACD histogram. However, since the week commencing 21st June, these red bars have been pale and reducing towards zero.