#Bitcoin Today's cryptocurrency market has seen a sharp decline due to several combined factors, mainly including:

1. Investor sentiment and panic: Large sell-offs, triggered by "crypto whales" (investors holding large amounts of assets), have caused sudden and widespread price drops. Negative news has also contributed to creating a FUD (Fear, Uncertainty, Doubt) effect, increasing selling pressure from retail investors.

2. Pressure from regulatory oversight: Global regulatory bodies are tightening control over cryptocurrencies. This includes prosecuting major individuals in the industry (such as the former CEO of FTX) and restrictive policies in many countries, impacting market confidence.

3. Correlation with traditional financial markets: Bitcoin and cryptocurrencies often fluctuate in line with other markets like stocks. Currently, concerns about a global economic crisis may have dragged the market down.

4. Slowdown in venture capital funding: Investment in the cryptocurrency sector has sharply decreased compared to before. Investors are also more cautious after major events like the collapse of FTX.

These factors combined have led to continued volatility in the market in the short term.