Recently, many cryptocurrencies have experienced a pullback, and a sense of panic is starting to spread in the market. Many people are looking for and speculating about the reasons for the pullback; even if there is no reason, they feel compelled to find one, as it just feels wrong not to have an explanation when the market has pulled back. My personal view is: why make it so complicated?
It is completely normal for the market to pull back after a period of growth. The current trading market has such a rich variety of derivatives, with many options for contracts, leverage, and lending, leading to an ever-changing market environment, which is perfectly normal. Not every rise and fall has a reason; the reasons you can see are often what someone wants you to see.