Recently, the cryptocurrency market has seen a widespread decline. What is the reason behind this? The trigger for this decline was a few major events:
1. Once Trump's favorable narrative is settled, the market experiences a decline, followed by a period of calm.
2. Major coins listed on ETFs, bringing in significant profits for exchanges.
3. Then there was the recent black swan event at Bybit, leading to panic selling in the market, which directly triggered the widespread decline.
So, has the bear market really arrived?
The S&P 500 has not fallen below 20%, and inflation and other economic data do not indicate that a bear market has begun, suggesting that this is not yet a bear market. The most direct reason is the Bybit incident.