The market did not go down. Look at the 3-day chart and you will find that the market went up. Many currencies doubled and then went down again normally.

Why the Cryptocurrency Market Has Dropped
The cryptocurrency market has seen a significant decline recently, and there are several factors contributing to this decline. Here are some news and analysis that explain this decline:

1 Analysis by Ali Martinez: Analyst Ali Martinez noted that his portfolio of BTC, ETH, and ADA lost more than 10% during the recent market decline. However, he managed to stop further losses and make a profit of 72.3% by short selling coins such as DOGE, TON, and WIF before the decline.

2 Analysis of XRP Performance Cryptocurrency analysis firm MakroVision analyzed XRP’s performance, noting that it bounced off the $2.65 support level. If XRP cannot break the key resistance levels at $3.06 and $3.39, selling pressure may increase.

3 Predictions about Litecoin Despite the decline, Bloomberg analyst James Seifart still believes that Litecoin will be the next cryptocurrency to receive SEC approval for an ETF.
In general, this news indicates that the market is facing selling pressure, which leads to lower prices. It is important to follow future analysis and forecasts to understand potential trends.