Where the money is going—the clues are here:
Alpha $ALCH 24h -15.22%, trading volume $506,000, market cap $27.65 million.
After a drop like this, focus on whether large holders are buying at lower levels: volume contracts and the price stops making new lows—that’s when it can be considered to have stabilized.
What comes to mind first when it falls this far?

This could be wrong too, so don’t follow it blindly.