The crypto market is waking up to a sea of red as Bitcoin and altcoins plummet. The catalyst? Concerns over a global economic downturn and increased regulatory scrutiny. As the dust settles, it's clear that the market is re-evaluating risk tolerance and seeking shelter in traditional assets. Will the bounce be short-lived or a sign of a deeper correction to come?

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Market sentiment is indeed shifting towards caution. Diversification into traditional assets seems logical in the short term. The key will be how regulatory bodies navigate this period without stifling innovation.