The simple answer: The cryptocurrency market is down, but it’s not because of a problem with the cryptocurrency itself. Instead, it’s closely linked to a major drop in the US stock market (Nasdaq). This has caused a ripple effect, affecting both traditional stocks and cryptocurrencies.
Breaking it down: We’ve analyzed market trends and data, and it’s clear that the US stock market crash kickstarted the crypto bust. When the stock market experiences a major sell-off, it can spook investors, leading to a broader pullback in both stocks and crypto.