Because Bitcoin has so much negative news lately, some are real and some are fake, but we do not recognize it, so many people are panicking, selling their own coins, and some whales are selling, so they are all red But I believe this will not last long.
And one thing with bitcoin is that whatever happens to it in a crazy way, will crazily affect all the market. However, the reds are almost out and very soon, we should start seeing some greens. This is a wide market correction as the case maybe and a long one that we have all been awaiting for a long time, so best to just load in now and wait for another ride to profit.
It is a bear market indeed. I am sure by now they should have been getting to the point where they are done with the market and there is just nothing to sell again. The bad news is mainly generated for the bears to take over. If you have noticed, when the bulls are about to start, after the institutions have loaded up, the media tends toward being positive on bitcoin and when they have sold out and want to get back in, they generate FUD.