The bear market is due to two main reasons:

1. Christmas Holidays: traders tend to be inactive in the market because they do not work during the Christmas holidays.

2. Opportunities for whales: whales took advantage of profitable days during the bull market after Donald Trump's victory as President of the U.S. The inactive market during the Christmas holidays is a great opportunity for whales to drive down the market price before Trump takes office as president to have another chance to buy and promote their profits. The bear market will continue for a few more days.