It is plunging because: 1. Giant ascending triangle on the daily chart since December, with 5 lower highs. 2. Magic internet money that is copyable and splitable shouldn't be more than double digits...
I assume by fundamentals you mean utility value. And you are wrong. It is perfect for black mailing for example. That doesn't mean its value should be in the 4 digits.
The value of Bitcoin is proportional to the cost of energy required to mine the next coin... assuming anyone gives a shit lol
here is another one. Federal agencies opened investigation into USDT, that was created out of thin air to prop up Bitcoin price.