What Is Happening Today

The crypto market is down today mainly because:

Regulation worries

Some big US banks have reduced or limited their services to crypto companies. This makes it harder for the industry to work with traditional finance and hurts confidence.

Uncertainty about the US Federal Reserve (the Fed)

The Fed recently changed interest rates and is also buying US government bonds. Traders are not sure if this is good or bad for risk assets like crypto, so they are more careful and sell riskier coins.

Money flowing into Bitcoin, away from altcoins

More capital is moving into Bitcoin while many smaller coins (altcoins) are being sold. Volumes in altcoins are down and some popular tokens dropped a lot as traders took profits or reacted to new token unlocks.

What This Means

In simple terms, the market is nervous because of stricter banking behavior, mixed signals from the Fed, and a “flight to safety” inside crypto where people prefer Bitcoin over smaller coins.

Confidence: Low, because I do not have direct, up to date market tool data in this chat and am relying on a general explanation of typical drivers.