The cryptocurrency market's recent collapse can be attributed to:

Regulatory Pressure: Increased scrutiny and potential bans from governments.

Economic Factors: High U.S. inflation and interest rates pushing investors to safer assets.

Market Sentiment: Fear from past collapses like Luna and FTX, leading to cautious investing.

Lack of Innovation: Fewer new, impactful crypto projects, diluting market interest.

Liquidity Problems: Too many competing tokens, reducing effective liquidity.

External Influences: Events like the introduction of DeepSeek AI and Trump's policies.

Fraud and Manipulation: High-profile cases diminishing investor trust.