Judging by the fact that over the past few months, the capitalization of the cryptocurrency market has remained at 40%, and given that the lion's share of the market capitalization falls on Bitcoin, this indicates primarily that the popularity of Bitcoin has slightly decreased. Apparently, users are reluctant to leave their funds in cryptocurrency, so they withdraw their assets in fiat.
Which is a completely natural response dont you think? After the crash we saw a few years ago investors are not taking any chances, if the price goes down then they immediately sell their coins and get fiat in return, while this will make the recovery of this market harder to achieve it is also more healthy for it, since it is not natural to see a crash of 85% on most coins of the market and still claim that holding your coins is a good idea.