There may be many factors that may be responsible for the recent market crash.
Musk and the military review of the incident
Musk has reportedly been censored by the U.S. military for some security issues, especially the technology and sensitive information involved in his companies in various fields (such as SpaceX, Tesla, etc.) may have caused security concerns. Such news usually causes market uneasiness because Musk's business empire has a huge influence, especially his companies are closely related to national security, military technology and other fields. When the market is concerned about the increased regulation of technology giants, it may cause fluctuations in investor sentiment, which in turn affects the cryptocurrency circle.