The recent drop in crypto is all down to the SEC postponing the decision of listing Bitcoin as an exchange-traded fund (ETF) to the end of September. Naturally the whole of the crypto market is down on the news, this on the face of it seems to be bad news.
But its good news, its very good news, you see they could just easily stop Bitcoin from being an ETF but they didn't. They recognise that its too big and too complicated to turn down so they need to take the time to make it work. The 30th September is the date now where either Crypto will rise beyond recognition or fall to new more recent lows. There is too much money invested in crypto to let this fail, the financial markets need a new player into their arena and Bitcoin (and other crypto's) are the ones who will shape their future, they just need a bit more time to get it to work.