Firstly, the currency market situation does not justify the future market price.
Having said that, a moment like the current sudden downtrend in the market should be expected ever since the institutional banking pop into the crypto market through the spot ETF.
Second, the downtrend was caused by the TradingJump which is a proprietary trading firm owned by  Principal Traders Group which is an association of firms that trade on futures, options, and equities markets worldwide. They did some huge sell-offs worldwide and if you follow the crypto, and stock market you'll see that as crypto experiences a downtrend so does the US stock, Japan, China, etc. I believe BlackRock and other powerful investment organizations are behind this.