Main reasons for the plummet market:

1. Dollar strengthening: A strong dollar puts pressure on risky assets, including cryptocurrencies.
2. Concerns about inflation: Recent inflation data have raised fears that it may exceed forecasts, which could lead to further market plummet.
3. Geopolitical uncertainty: Political and economic events, such as potential conflicts, also affect investor sentiment.
4. High interest rates: Rising rates make debt instruments more attractive compared to risky assets.
These factors combine to create negative momentum in the market, causing investors to exercise caution and cause prices to fall.