Sad day for the cryptocurrency world: Is this the end of a decade of dreams?

Earlier today the 10-year Treasury note fell below two-year yields for the first time since 2007. It sparked a nearly 3% decline in the S&P 500 and sent investors toward safe-haven of utilities and real-estate stocks. The obvious expectation was that at least part of the investors would have moved toward the cryptocurrency market. But that did not happen. Not only. The cryptomarkets heavily crashed in parallel and across the globe. It seems there is only one single explanation for such a largely unexpected event in the crypto realm: The cryptocurrencies appear as being highly vulnerable to the traditional financial and stock markets. I stress the qualifier 'highly because in front of a 3% decline of the S&P 500 we assist to a fall of crypto markets way beyond 10%. Should we declare the end of a decade of dreaming an alternative to the traditional dysfunctional financial system? Too soon to conclude. We still need more studies to better understand the underlying factors. However, a good starting point is to focus on algorithmic trading and the way it uses parameters such as 'market sentiment', etc. As the Latins used to say: Hic Rhodus, hic salta!!