The crypto market's sharp crash was triggered by a mix of profit-taking, liquidations, and nervousness around new US crypto regulations.
As prices plummeted, leveraged positions were automatically closed, exacerbating the downturn.
Bitcoin's failure to hold above $120,000 was a key factor, with many traders selling off their coins and altcoins taking the biggest hit.
Now, the crucial $115,000 level will determine the market's next move - will it bounce back or continue its downward trend?
