It is natural to feel tension upon seeing this drop (red candles) in the market. According to the screenshot, almost all coins are down between 4% to 14%.
There could be some major reasons behind this bearish movement.
1. Market-Wide Correction
When Bitcoin or Ethereum (which are market leaders) drop, all other "Altcoins" (like SUI, DASH, ZEC) tend to follow them. In your screenshot, ETH is also nearly 5% down, which is putting pressure on the entire market.
2. Profit Taking
It is possible that the market has shown a good rally in the last few days, and now investors are booking their profits and exiting. This increases selling pressure.
3. Economic Indicators or News
Sudden panic selling can also start due to global financial news or crypto-specific news (like ETF flows or regulations).
$BTC ho
BTCUSDT
Perp
66,824.6
-1.02%
ETHUSDT
Perp
1,959.95
-1.21%
SOLUSDT
Perp
79.85
-2.32%