$BTC What is happening all this? Global market cap has lost over half of a trillion dollars in a matter of the last few hours.

Big assets like Bitcoin, Ethereum, Solana and Dogecoin have plummeted, the sort of action that lopped 90 percent off of even the biggest coins during the last bear market and is causing existential questions for many investors.

Here’s a brief overview of where some of the most prominent digital coins are on Wednesday:

Bitcoin (BTC): Fell below $102,000, decreasing 1.23%

Ethereum (ETH): Fell to $2,548.30, representing a decrease of 2.08%

Solana (SOL): Dropped to $171.40, a decrease of 3.88%

Dogecoin (DOGE): Fell to $0.2267, a decrease of 3.4%

What caused this sudden drop?

Here are some of the reasons analysts are attributing for the dip in the market:

Profit-taking on many coins to resistance zones.

Inflation fears returning in global markets

Geopolitical pressures causing more generalised uncertainty

No Collins is but a domino precipitated over-leveraged liquidations

Increasing regulatory scrutiny in more than one jurisdiction

Should you panic?