I believe the current market crash has been engineered by big players, they would buy heavily during this dip and sell when the market pumps again in future. In this way, they gain big profits.
I also believe that the current decline was made so that large investors could buy cryptocurrencies at an attractive price.
Bingo! The biggest players made everything they could to let the prices of the main cryptocurrencies fall so greatly. Now they can easily buy more crypto, especially Bitcoin and Ethereum, and pay for it less.
It's actually a good strategy since people are expecting to get a good run to end the year, and when this crash happened, disappointed souls sold cheap. It may continue a little bit more and see us at 3k or less though.