One cannot say for sure why the market is going down. Some say that hacks, others bad news surrounding cryptocurrency. Whom to believe I do not know. I think regulators are trying to kill cryptocurrency. They are taking strict stances against cryptocurrency.
maybe it can happen, but the news spread the existence of the hack, the conflict about the circulation of crypto and negative news may indeed have an impact on the current price that continues to fall. it may be seen that many big countries will have a strategy to master the crypto itself so pressing price prices, then they buy in large quantities and small investors will lose, then stay patient until prices rise high.