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 crypto market; it belongs to the US stock market, specifically Nasdaq, which is still in a bull market.
So the entire crypto market is following the Nasdaq component stock Bitcoin.
When Bitcoin rises slightly, everyone rebounds a bit; when Bitcoin drops, everything else collapses.
When the US stock market enters a bear phase, the crypto market will also collapse, and the volatility will cease.
The US stock market is not at a low; any further rise will be difficult, and it could drop 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 crypto market; it belongs to the US stock market, specifically Nasdaq, which is still in a bull market.
So the entire crypto market is following the Nasdaq component stock Bitcoin.
When Bitcoin rises slightly, everyone rebounds a bit; when Bitcoin drops, everything else collapses.
When the US stock market enters a bear phase, the crypto market will also collapse, and the volatility will cease.
The US stock market is not at a low; any further rise will be difficult, and it could drop at any time.