One of the facts is that so much people have now their crypto-money converted in FIAT so that generally there is much less liquidity now across the whole crypto metaverse. So many people are simply not investing right now as they are out of crypto waiting for the reverse.
It maybe come from the effects of shopping time and New year's spendings.
After all, the market will come back to its normal situation.
Which isn't a reasonable approach. Only joining the party when the reversal is completely obvious may also lead to missed opportunity.