The cryptocurrency market has been facing a number of challenges recently. One of the main reasons for the decline is the **volatility of the technology market.

For example, the launch of the new Chinese AI assistant DeepSeek led to drops in stocks such as NVIDIA, and this bearish movement extended to the cryptocurrency market.

In addition, the liquidation of long positions also contributed to the decline, with around US$53948885770660 million in liquidations intensifying the trading pressure.

Another important factor is the fear and uncertainty (FUD) sentiment among investors, which was triggered by moves such as the US government moving Bitcoin seized by Silk Road to a new address.

Bottom line:

These factors combined have created a situation of instability and distrust in the cryptocurrency market, leading to a significant drop in the total market capitalization.

What is your opinion on this phase in the crypto market? Do you agree with the above analysis? Leave your vote and opinion.