The crypto market is generally in good health. The only thing that has happened is that Bitcoin and other highly capitalized cryptocurrencies encountered strong resistance just before reaching their ATH. This was followed by selling from traders who saw the prices hit the same levels where they had previously bought before the dip, simply closing their positions to avoid losses or minimize them.

You only need to look at the monthly charts of the major cryptocurrencies to see how they mimic each other's movements.

It's clear that many traders are nervous because cryptocurrencies are very volatile. While it's true that they can achieve substantial gains, it's equally important to understand that for the same reason, the drops can also be sharp. Therefore, patience is key as the market will make another attempt.

In summary: confidence in the market's recovery after the drop, but still no technical signs of a rebound yet.