Crypto market is crash ! 3 big reason ?

The USA President's tax gap proposal calls for businesses to report crypto transactions above $10,000
The report calls virtual currencies a "significant concern" for tax evasion, especially as the market grew to $2 trillion in the past year before dropping below that figure in yesterday's crash. It specified that it’s hard to detect illegal activity using cryptocurrency in general, including tax evasion,

Tesla CEO Elon Musk's tweet tesla not accept Bitcoin for there payment.

China announcement of the ban on cryptocurrency services stated that Bitcoin is a specific virtual commodity that is not issued by a monetary authority, has no monetary properties such as being legal tender, is not a real currency, and should not and cannot be used as currency in the market.