[jazz9k]

It's a victim of its own success. It's struggling, because large institutions are invested in it, and it now rises and falls with the stock market. It used to be advertised as an alternative to these institutions.

I also think because of the volume, pump and dump schemes are less likely and some popular Youtuber shilling for it can't raise the price anymore.

[jqpabc123]

It's struggling, because large institutions are invested in it

Many of these "large institutions" (for example, Fidelity) are merely trade facilitators responding to client interest --- aka, speculation. They have nominal investments in crypto as necessary to offer trading services to their clients.

An apparent exception to this is Strategy, led by Michael Saylor. But even in this case, their direct "investments" are actually financed by debt ($6 billion or so) --- aka other people's money.

In most cases, it's the "little people" who have all the skin in the crypto game.