The market has collapsed, falling 7.9% in 24 hours, mainly due to these reasons:

1️⃣ US stocks drag down: The S&P 500 fell 1.38% yesterday, Tesla dropped from 406 to 393, and Nvidia plummeted from 153 to 140.

2️⃣ Dollar Appreciation: The euro, yen, and rupee are all being suppressed by the dollar, as the Federal Reserve signals tightening liquidity.

3️⃣ Altcoins suffer: the total market value of altcoins fell from 1.49 trillion to 1.38 trillion, with a decline even more severe than BTC.

4️⃣ Bitcoin: fell 5% in the last 24 hours, once dropping below the 100,000 USD mark.

**But what's interesting here is** — the implied volatility of the options market ( IV ) has rebounded, but it is still at a low level. This means that the market thinks this downward movement is a short-term correction, not a major issue.

Some traders suggest that buying call options around $100,000 can be considered as a leveraged tool for bottom fishing.

**Bottom line**: The market fundamentals haven't deteriorated yet; this wave is just a technical correction due to macro factors. If the US stock market stabilizes, the crypto market will also rebound.