Here are the top reasons why the crypto market is currently down:
1. **SVB Bank Collapse**: Silicon Valley Bank failure sparks fear of contagion in financial markets.
2. **US Interest Rate Hikes**: Expected rate increases reduce appeal of risky assets like crypto.
3. **Bitcoin Miner Sell-Off**: Miners selling BTC holdings to cover operational costs.
4. **Regulatory Pressures**: Increased scrutiny from US SEC and other global regulators.
5. **Liquidity Crisis**: Reduced trading volume and liquidity exacerbate price declines.
6. **Whale Investor Sell-Off**: Large investors selling crypto holdings, flooding market with supply.
7. **Technical Analysis**: Bearish chart patterns and indicators signal further decline.
8. **Global Economic Slowdown**: Recession fears reduce risk appetite for crypto investments.