yes, crypto fraud has become one of the reasons the bitcoin market crashed, high sales and low purchases are also factors that make the crypto market destroyed.
so, I think that market conditions today are influenced by negative factors that make bitcoin fall drasatically.
You know why its easy to fraud people using bitcoin? Its because no government agencies or regulators managing and limiting the persons capability in the crypto space.
On its value it is highly affected by people who are panic selling their bitcoin with a very unreasonable price or others who have a lots of holding but hoarding it until the price go boom again.