Why are people only focusing on how the market is down in general and not focusing on Monero, which has been steadily trending upwards?

This is a cryptocurrency with an actual use case; and unlike the bizarrely public Bitcoin actually replicates real world money in its anonymity.

The delistings are bullish in my opinion , as it does not allow exchanges to manipulate the bid/ask to their advantage. Couple with dex trading getting easier and easier (which makes any local laws about holding it largely irrelevant), it seems like a no brainer to hold some.

Wondering what the bear cases are though, as it seems to be rarely mentioned , despite its slow ascent over the last year (as opposed to the pump and dump pattern of the not really anonymous zcash)