At the moment, in my opinion, the market is less fearful of economic data and geopolitical events, and the current decline is more related to the approaching deadline for the SEC to appeal in the Grayscale case. Essentially, market participants are almost certain that the SEC will continue to defend its stance, which might erode the optimism gained from the previous uptrend. The appeal deadline date is October 13-14, but of course, this might happen earlier.
Additionally, today the US CPI data will be released, and I don't expect any positivity from them. However, if they lean bearish, I'm concerned about a confluence of negative events which might press the market below the nearest support levels of 25700-26000.
If the CPI data turns out to be not overly pessimistic, there's a chance to hold the 25700-26000 levels upon the SEC's appeal filing.
