Saw the market recap from back in April when crypto took a massive hit across the board. Everyone was still riding the high after BTC broke above 70k, then boom - everything just tanked hard. The whole market was bleeding red that day. I remember checking the fear and greed index and it had dropped from extreme greed down to just greed territory, which pretty much summed up the mood.

So why did crypto crash that day? Turns out the broader economy was weighing on everything. Fresh inflation data came in hotter than expected, which spooked traditional markets first, and crypto just followed suit without hesitation. The hope for Fed rate cuts got crushed by that CPI report. Bitcoin dropped around 4-5% that session, Ethereum fell even harder at over 7%, and altcoins like Solana, XRP, and Dogecoin got hit even worse - some down double digits. The meme coins weren't spared either, with tokens like Dogwifhat taking a beating. Overall market cap dropped roughly 7% in 24 hours, though trading volume spiked massively as people rushed to exit positions.

What's interesting looking back is why did crypto crash at that particular moment - a lot of it came down to macroeconomic uncertainty and the timing being right before the Bitcoin halving event scheduled for a few days later. Some saw it as a buying opportunity at discounted prices, others just wanted out. The market was basically caught between economic headwinds and anticipation for what the halving might bring. It's a good reminder of how tied crypto still is to traditional market sentiment and economic data.