Jim Cramer has shared his perspective on why the cryptocurrency market is crashing. The crypto market crashed on September 4 after the Bitcoin price slipped briefly below the $55,000 mark. The entire crypto market dropped 5.1% as $199 million worth of open positions comprising 75,487 traders got liquidated. The largest single liquidation order happened on the ETH/USDT pair on Binance, where the trader lost $2.94 million, according to data from Coinglass. On the other side, the traditional market wiped out $1 trillion from the U.S. stocks.