There are few possible options from what I think.
1. Correction.
As we see on the stock market the prices of the stocks are in a correction phase, just the same as crypto's.
2. Where in the next cycle.

3. Manipulation.
There are bigger entities than we know that manipulate the crypto, but does that also mean they manipulate the stocks?
Take these assumption with a grain of salt. My plan is to buy more crypto's while they are on sale because I believe in option 2, and we are ATM at the anger stage. It would take at least a few months to see a bull-run if not years. Good luck with shorting the market my friends.
If you know you know! Whether we like it or not, there will always be the institutional factors, or will I say the bigger players in every equation of the market. It is not something we can hide from, and what we are just basically retail investors or traders, and we simply just follow the market, but these guys make the market, so they pretty much tend to make it happen the way it will always favor them.
I know a lot of people tend not to come to terms with things like this, but take a look at most of the past assets as well as the stock market, and you will be able to relate better. They win by manipulating, based on the emotion running through the chart at certain point in time.