Nothing is wrong. now coins are trying to improve themselves. there are those who are trying etf, hardfork, and all of them aim to re-attract investors and then the market will return to good again.
Good coins will do their best just to back on track but it will not happen easily and it will take more time before we see the growth. The wrong with the market is that, manipulation is still in force and they are trying to create more panic so they can own more bitcoin. This is totally a devastating trend of the year, no one knows what is the dip price so people continue to panic and sold their token at a big loss. Lets hope to see the dip price now, so we can start bouncing back and hopefully more investors will come this time.