One crypto analyst says this downturn is not unexpected at all.

I tend to agree! Whatever goes up, it usually goes much higher than anyone expects it to go. The same, if anything goes down, it goes even lower than anyone may think and stays that way for a long time. When bitcoin was at $20k, I made a comment “once bitcoin gets back to 10k, I would start buying”. The respons to my comment was with laugh and that we would never ever see 10k in bitcoin again. I believe they are not laughing anymore.

Recent pullback was actualy expected. From the technical point of view we recently broke reversed head & shoulder formation. We overhit the target by a bit and now price is coming back to the breaking point, the support at around 7.2k. Once we get there, we should continue to go higher. That’s my thinking, my more bullish thinking that was just short time ago much more bearish.