Despite the positive developments in the crypto space, the market has experienced a downturn. There are several reasons that could be contributing to this:

1. *Profit-taking*: Investors may be selling their assets to lock in profits after the recent price surge, leading to a market correction.

2. *Regulatory uncertainty*: The ongoing regulatory discussions and potential changes to tax laws may be causing uncertainty and driving investors to sell.

3. *Technical analysis*: The market may be experiencing a technical correction, with prices reaching overbought levels and needing to retrace.

4. *Liquidity crisis*: Some exchanges may be experiencing liquidity issues, leading to price volatility and a market downturn.

5. *Whale manipulation*: Large investors, known as whales, may be manipulating the market by selling their assets, causing prices to drop.

6. *Market sentiment*: The overall market sentiment may have shifted, with investors becoming more risk-averse and selling their assets.

7. *Global economic factors*: Global economic concerns, such as inflation, interest rates, and geopolitical tensions, may be impacting the crypto market.

It's essential to remember that the crypto market is highly volatile and can be influenced by various factors. Keep in mind that this is not investment advice, and it's crucial to do your own research and consider multiple perspectives before making any investment decisions.