Several factors are contributing to this market decline:

1. Interest Rate Concerns: A stronger-than-expected U.S. jobs report released on Friday has raised fears that the Federal Reserve may maintain higher interest rates for an extended period. Elevated interest rates can reduce the appeal of riskier assets, including cryptocurrencies.

2. Regulatory Uncertainty: The cryptocurrency market continues to face regulatory challenges. For instance, the U.S. Securities and Exchange Commission (SEC) has been involved in legal actions against certain crypto entities, such as Ripple, the company behind XRP. The SEC has until January 15 to present arguments for its appeal against a previous decision involving Ripple, adding to market uncertainty.

3. Market Technicals: Analysts have identified key support levels for Bitcoin. If Bitcoin breaches the $90,000 support level, it could potentially drop to $73,000, indicating a bearish trend that may influence the broader crypto market.

These factors, among others, are contributing to the current "bleeding" in the crypto market. Investors should remain cautious and stay informed about ongoing developments that may impact market dynamics.

#DYOR