Just caught up on what went down at the end of last month, and honestly, the crypto bloodbath was brutal. Bitcoin tanked 6% in a single day, sliding toward that critical $60K support level everyone was watching. Ethereum got hit even worse, dropping nearly 10% to around $1,800. Altcoins were just getting slammed across the board. So what actually caused this crash?

Timing-wise, it was a perfect storm. First, there was the geopolitical shock—Israel launched strikes on Iran, which immediately spooked risk-on traders. When tensions flare up like that, money flows out of crypto and into safe havens like the dollar and bonds. Crypto trades 24/7, so the reaction was instant and brutal.

But geopolitics alone doesn't explain the full drop. The macro backdrop was already deteriorating. Inflation data came in hotter than expected, which means the Fed isn't cutting rates anytime soon. That killed the narrative that had been supporting the market. Higher rates and a stronger dollar always pressure crypto.

Then the liquidation cascade hit. Over $88M in Bitcoin longs got wiped out in hours, which just accelerated the selling. On top of that, spot Bitcoin ETF inflows dried up—assets under management dropped over $24B in a month. Without institutional buyers propping things up, the downside moved faster than people expected.

The $60K level was key because it's been acting as major support for months. Break that convincingly and you're looking at mid-50K territory. Right now the market is just reacting to fear—geopolitical risk, sticky inflation, forced liquidations all hitting at once. That's why crypto is down so hard. Stability is what's missing, and until we get some clarity on these issues, bounces might be short-lived.