I think it all started from Terra Luna first.
We can blame it all to LUNA but it's still around the whole market as well and to be honest something will happen anyways since it will not forever go up. People are anxious that they tried to take profit, breakeven or sold at lost, crypto market isn't just that confident in the long term if it's in bull run, it can only happen a short period.
The bear started when the price was not able to break the resistance and hit the peak, it became worst though because of negative news and yeah mishandling of many big projects. LUNA might be the start of the worst followed by the FTX, we have no more choice now but to deal with it and take necessary action which is to buy more. This bear seems to stay longer, which is a good opportunity to accumulate so don't forget to grab some.