I can see that most of the main coins are slowly bleeding the price down.
I heard some nonsense like "it is highly correlated with Nasdaq".
Any informed opinion of what is going on?
Personally not worried too much
Because you are getting negative rates. Inflation - ~2.5-percent.Interest rates are going up up up.
Why keep your cash in a volatile falling asset, with fundamental value of $0, that pays no interest, when can earn guaranteed risk free money without any volatility.
Nasdaq and crypto are "risk off" areas, highly correlated. You can imagine anything you wish about rodents, but facts and price action shows with charts what is what.