absolutely it can. a VM is not only software but it takes some of the hardware resources for itself as well. a chunk of ram, some cpu cores, hard drive space and so on. normally you can crash a VM without effecting the host machine but in extreme cases it can crash the host as well
in my experience, leaving too little resources for the host is the cause for many crashes. look at event viewer and and the reliability monitor to see what they say caused the crash. that's a good place to start as it may not even be the VM but a coincidence