Why is the crypto bear market happening despite key good news?

The ongoing crypto bear market has seen major cryptocurrencies like Bitcoin and Ripple suffer substantial losses, with Bitcoin dropping below the $100,000 psychological support level. This decline has led to the lowest sentiment levels since February, as reported by Bitcoinist, where the Fear & Greed Index indicates a growing concern among investors. The recent market downturn, which has wiped out approximately $280 billion, reflects a broader trend of volatility despite some positive news in the sector, highlighting the complex dynamics affecting investor confidence.