The crypto market is experiencing a downturn today, with Bitcoin's price dropping below $93,000 and the total market capitalization decreasing by over 3.1% . Several factors are contributing to this bearish trend:

- *Bitcoin's Flash Crash*: Bitcoin's sudden 5% drop triggered panic selling among investors, leading to a decline in other cryptocurrencies .

- *Long Liquidations*: Mass long liquidations, totaling approximately $732 million, have accelerated the market downturn .

- *Global Economic Concerns*: The Federal Reserve's decision to maintain interest rates and Middle East tensions have also impacted Bitcoin's price .

- *Technical Correction*: The market may be experiencing a technical correction after a significant rally .

- *Regulatory Uncertainty*: The SEC's increased scrutiny of NFTs and stablecoins' growing market share may be contributing to market uncertainty .

These factors have led to increased fear among investors, as evident from the Crypto Fear & Greed Index dropping from "extreme greed" to "greed" .