Indeed, it looks slower and can still have the potential to go down again because the current war continues to happen.
There are many negative narratives happening in the global market that affect all sectors of the economy, including crypto.
It is true that the recovery is a bit slower. There are too many bad news, the war is one of the bad issues. I don't know if war really bring significant impact to crypto price. But I think the situation of US economy and the political issue have big role to lead huge drop in crypto prices. The issue of recession and many of big players sell their assets make crypto investors be afraid of the future investment. So, it makes sense if there is a big drop in the demand of crypto recently.
Now having money in reserve Fiat will be very lucky to buy at a cheaper price, if you buy when the initial decline when bitcoin hit $49k it became a Dip buy this week.
Yes, it is a good time to buy at cheap price. If there is someone who buys at $49k, they already get profits now.

But you say, there is a chance of a more drop. What is the possible lowest price in the current downtrend? Do you think the price will drop to $40k?