There is a lot of money trapped in the miners stock as they have been a complete disaster and some have been sold and shorted to levels lower than when bitcoin was $25k. Miners that I purchased a year ago are underwater. And because of the terrible summer of bitcoin lethargy, many miners have found themselves dilluting the stocks to keep going. So bitcoin is bad, the miners are very very bad. And that contributes to the spiral of bearishness that is thick now.