What happened to Cryptos on 6 December?

On the 6th of December, the crypto market underwent significant volatility. Could you elaborate on the specific events that transpired and their implications on the overall market? Were there any major announcements or news releases that triggered this sudden movement? How did investors react, and what strategies did they adopt to navigate this period of uncertainty? Understanding the root causes and market reactions is crucial for investors to make informed decisions in the crypto space.