What is the disadvantage of logit probit model?

Can you elaborate on the limitations of the logit probit model in the context of cryptocurrency and finance? I'm curious to understand how this statistical tool might not fully capture the complexities and nuances of this rapidly evolving industry. For instance, does it adequately account for the non-linear relationships and volatility often observed in cryptocurrency markets? Additionally, are there any concerns about overfitting or the potential for biased results when applying this model to financial data?