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Aussie dad devastated by shock DNA testing revealing his kids aren't his - 60 Minutes AustraliaBitcoin's value fell by more than half its value since its November peak, which caused the entire cryptocurrency market to collapse. Why Did Crypto Crash? Record-high inflation, fear, rising interest rates and a loss of confidence in crypto investments all contributed to the crypto crash. The cryptocurrency market is starting to bounce back a year after the collapse of crypto exchange FTX and other big players in crushed.