It seems this is an effect of the Mt. Gox repaying people. From what I've read, Mt. Gox went bankrupt in 2014 and has recently been giving their creditors BTC and BCH back. BTC was worth 600 USD back then, and is worth 54k USD now. So a lot of those that were paid are selling some or all of it. This led to the slight drop of BTC price, and when BTC drops, alts follow. I think it is just a fire sale to get more Hive though haha.
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