The cryptocurrency market is experiencing a serious upheaval. Last week, Bitcoin dropped below $75 thousand, losing about 5%, and Ethereum fell approximately 6.5% to $2,200. Solana also did not escape the wave of sell-offs, falling below $100. This is not just an ordinary correction — there is complete chaos in the stock markets.

Tech stocks are burning from all sides. Adobe, Salesforce, Shopify — all of them lost between 7% and 12%. Funds related to AI and software plummeted 5% in a day and are already down 14% for the week. Even giants of private equity like Blackstone and KKR are losing 6-10%. It seems liquidity in the system is severely strained, and this is putting pressure on crypto along with everything else.

Matt Hougan from Bitwise does not hide it: this is not a correction but a full-fledged crypto winter, like in 2022. But there is good news — such periods usually last about 13 months. Counting from January, we are already close to the bottom. Hougan writes that he feels despair and hopelessness, which typically precede a turnaround. Maybe we will start recovering soon.