The cause of the drop in the price of Bitcoin and other cryptocurrencies is due to the sluggish stock indices around the world in recent days, including the major stock indexes of Europe, Asia and the US.
It's only major thing that was triggering a few crypto investors to swap their assets into the stable token or fiat money but i just wanna tell you that if terra luna has made the situation even worst. In my opinion that selling big chunks of bitcoin into the market was causing the price of bitcoin to drop drastically to the bottom. The pressure is still even continue. Bitcoin may so stable at the current price but not when do kwon will be dumping his bag again to the market.
This is the worst thing that i have ever seen