The upper chart shows an increase in realized BTC losses. Realized losses can only occur for short-term holders (STH) because the average cost basis for long-term holders (LTH) is around $25K. The price dropped, causing a spike in losses. Those who bought during the recent highs driven by FOMO are now selling.

The lower chart shows the STH SOPR (Spent Output Profit Ratio) falling into negative territory below 1, indicating the realization of losses.
Five days of negative ETF flow. 
All of this is a result of a massive wave of profit-taking by LTHs around BTC's new all-time high, which scared STHs, including new market participants. Additionally, the FED's refusal to lower rates in the near future added to the pressure.
A tailwind for BTC is Saylor's planned purchase of $700M instead of the previously announced $500M. 
He may have already bought the dip. On Tuesday, the downtrend might continue due to inertia, but I expect stabilization soon, followed by a reversal or an immediate reversal.