Most times it is hard to say what causes a sell off, so take this with a pitch of salt.
It seems that, increasing lock downs due to increased infections in Europe has caused those markets to sell off, which in turn has led to people selling off stocks in the US.
This leads to people reducing there risk, and crypto is high on the list of risky assets.
The same domino effect happens again within crypto. Once Bitcoin and Ethereum sell off people start reducing there riskier assets, in this case Defi.
I'm still with in my plans, so I will be holding. While I am overweight Ethereum I am not overly exposed to Defi. Still that overweight ethereum is hurting at the moment.
Stay safe out there.
If you like these Daily Thoughts remember to give me a follow
You can also find me here
Twitter accounts
Gaming https://twitter.com/5boringgamesLP
Maths https://twitter.com/2ndMaths
Trading https://twitter.com/cryptotwi
Affiliate links
Brave browser, just like chrome except you get paid for the ads you see
https://brave.com/hqo109
Here are some trading sites I use, sign up and play around with them before you deposit money. Message me any questions and I'll be happy to help
Disclaimer
Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.