There are many reasons that makes the market experience decline especially the Crypto market in particular, though the reason I guess is because the Chinese are going on a three days holiday and will not carry out any activities within this days, I saw a news online about the Chinese government allowing the Chinese people trade crypto, if this is true, then the holiday is surely the reason for the dump in price of bitcoin.
I don't know, whether it's true or not, if it's true, that means the investment of Chinese people is big in crypto trading every day. because it gives such an effect that can reduce the price of bitcoin and the entire market. of course there are other factors that make this happen.