The entire crypto market has experienced a synchronized dump, as evident from charts like $BTC $ADA , $PEPE , and #DOGE , all showing sharp declines with heavy selling volume. This type of market-wide drop often happens due to factors like macroeconomic fears, unexpected regulatory news, or mass liquidations in highly leveraged positions.
In this case the sell off appears to be driven by cascading liquidations and panic selling, as RSI levels across assets show extreme oversold conditions. The simultaneous decline suggests a broader sentiment shift or external trigger affecting the entire market, with traders exiting risk positions quickly.