I think the reason the market is so volatile is:
The cryptocurrency market is essentially in a bear market, with only Bitcoin still in a bull market, and Bitcoin no longer belongs to the cryptocurrency space; it belongs to the U.S. stock market and Nasdaq, which is still in a bull market.
So the entire cryptocurrency market is following Bitcoin, which is a component of the Nasdaq.
When Bitcoin rises, everyone rebounds a bit; when Bitcoin falls, everything else plummets.
When the U.S. stock market turns bearish, the cryptocurrency market will also drop and will no longer be volatile.
The U.S. stock market is not at a low point, and any further rise will be difficult; it could fall at any time.
The cryptocurrency market is essentially in a bear market, with only Bitcoin still in a bull market, and Bitcoin no longer belongs to the cryptocurrency space; it belongs to the U.S. stock market and Nasdaq, which is still in a bull market.
So the entire cryptocurrency market is following Bitcoin, which is a component of the Nasdaq.
When Bitcoin rises, everyone rebounds a bit; when Bitcoin falls, everything else plummets.
When the U.S. stock market turns bearish, the cryptocurrency market will also drop and will no longer be volatile.
The U.S. stock market is not at a low point, and any further rise will be difficult; it could fall at any time.