I just looked at the market, and it seems that the recent decline in cryptocurrencies was only temporary. BTC is up 1.41%, ETH is up 2.29%, and SOL has also turned positive by 1.52%. But the selling pressure earlier in the morning was quite widespread.

What's interesting is that at that time, high-beta assets were leading the decline. ETH and SOL fell more than BTC, which suggests traders' risk appetite temporarily decreased. BNB and XRP also moved in the same direction, indicating it wasn't an issue specific to individual assets but rather a market-wide correction phase.

The same pattern was seen in stocks, with tech stocks under pressure. Since NVIDIA and Meta were also falling, I think the simultaneous correction in crypto and stocks reflects a change in macro sentiment, not just coincidence.

Recently, institutional investors have been entering cryptocurrencies, so it's no longer an independent movement like before. When investors flee high-volatility assets, BTC, ETH, and SOL are sold together. Stablecoins hardly changed, so many investors were likely moving to preserve capital. Although the market has recovered now, I feel this kind of correlation will continue.