Why did USDC fall?

Could you please elaborate on the reasons behind the recent fall of USDC? I've noticed a significant decline in its value and am curious to understand the dynamics at play. Was it due to market sentiment? Were there any specific events or announcements that triggered this decline? Or is it simply a part of the overall volatility we often witness in the cryptocurrency market? Your insights would be greatly appreciated as I'm trying to make informed decisions in this space.