Odaily Planet Daily News BTC Markets crypto analyst Rachael Lucas said: "The decline in the crypto market today is not due to a single catalyst, and seems to be a combination of factors. Technical indicators show that the US dollar index (DXY) is oversold on the daily chart, which may indicate that the US dollar may rebound, which traditionally leads to downward pressure on risky assets such as cryptocurrencies." Lucas added that seasonal factors may be related to the market downturn. The "September effect" typically leads to poor market performance due to portfolio rebalancing, tax-loss profits, and increased caution before the US election. (The Block)