Wealthy investors have been able to buy bitcoin at least as far back as 2015-2018 using futures or other ways. By now, it's too late and the price is clearly still falling. Anyone who wanted bitcoin would have bought by now. Just sellers remain.
I'm not sure what chart you are looking at but BTC has been rising since June. The drop in crypto assets this year is well correlated with other risk assets like Tech stocks. Everything sold off when the Fed started raising interest rates. Most analysts are expecting and Fed futures are pricing in a Fed pivot to cutting rates sometime next year.
> Anyone who wanted bitcoin would have bought by now. Just sellers remain.
Now this is just silly. The order book on Coinbase Pro (just one exchange) shows ~$40 million of buy orders at or above 20K, ~$40 million of sell orders at or below 28K, and the spread is typically $2 or less. The market looks balanced and efficient to me.