So here's the thing - when you ask why crypto is going down across the board, the answer isn't some single trigger. It's usually a perfect storm of pressure points hitting all at once, and that's exactly what we're seeing play out right now.

Let me break down what's actually moving the market. First, there's the geopolitical angle. When global uncertainty spikes, institutional money gets nervous and crypto gets hit first. Bitcoin dropped below $80K not long ago with traders pointing directly to escalating tensions and political risk. The mood shifted into what you'd call survival mode - investors pulling back from anything volatile, and crypto is basically the definition of volatile.

Then you've got the macro picture. Even without crypto-specific news, prices slide when traders start pricing in tighter financial conditions. Higher interest rates, a stronger dollar - these make cash and Treasuries look more attractive than high-risk assets. So capital rotates out, and altcoins feel it hardest.

But here's what's changed the game - ETF flows. Since spot Bitcoin ETFs went mainstream, these inflows and outflows actually move the needle now. When you see $800M+ in redemptions in a single session, that's real selling pressure. It's not panic necessarily, but it's steady downward momentum that compounds.

Leverage is another beast entirely. The crypto market runs on leverage, and when support breaks, liquidations cascade automatically. You get one sharp dip, liquidations trigger, forced sells accelerate, and suddenly what should've been a small pullback turns into a waterfall. This is especially brutal on weekends when liquidity thins out - fewer buyers on the books means your sell order moves price way harder than it should.

Altcoins get destroyed worse than Bitcoin for obvious reasons. They're higher beta, thinner liquidity, and when traders get defensive they use BTC and ETH as collateral to reduce risk everywhere. So Bitcoin might drop 5%, but SOL, BNB, and the rest fall 10-15%. It's just how the correlation works during stress.

On top of all this, there's crypto-specific pressure too. Mining profitability hits multi-month lows, institutions keep highlighting structural vulnerabilities around liquidity risk, and the ecosystem stress compounds the macro headwinds.

What would actually signal a bottom? You'd want to see ETF outflows slow down or flip positive, liquidations cooling as forced sellers clear out, Bitcoin holding key support for multiple sessions, and volatility dropping as liquidity returns. Macro headlines calming down helps too.

Right now though, it's not about picking winners. It's about broad de-risking. That's why BTC, ETH, BNB, and SOL can all move together. Risk-off doesn't discriminate.

Not financial advice obviously - just watch the signals and manage your exposure carefully.