For some coins, I think yes, especially the price of BTC, ETH, and other top coins.
Some big events, annual events, or even the mainstream events may give some influence to the condition of the people that hold the events. We are not sure enough. but, we can analyze it often happens that people sell their coins right to head for a special event. Some may think that they really need to sell the coins because they need cash to hold the event.
Additionally, some issues also influence the market. Moreover, there are so many characteristics of people. Some may be worried about every issue that emerges in the crypto world and then being panic to sell or buy immediately.
That's certainly true, mate. The fact that the crypto market is too centralized, tells us that mainstream events will have a direct impact over a cryptocurrency's price. There's no other way around it. Until crypto becomes completely independent from centralized exchanges, prices will either soar or decline depending on what happens in the real world. At least, we could take this to our advantage for helping us determine when it's the right time to buy/sell a coin.
The cryptocurrency that is mostly tied to mainstream events is Bitcoin. I've seen how events like the Iranian-American war, China's announcement of a CBDC (Central Bank Digital Currency), and Facebook's announcement of the Libra stablecoin have positively impacted the price of the world's largest cryptocurrency by market cap (BTC). Other prominent coins on the market will rise in price alongside Bitcoin as they follow its footsteps. By all means, it's important to keep close attention to mainstream news in order to know when the bull market will take effect.
If by any chance the way we trade crypto becomes completely decentralized (theoretically it's possible nowadays, but adoption is almost non-existent), then mainstream events (either good or bad) won't have an effect over crypto's price across the market. But the way I see crypto is going, tells me that it'll remain too tied to the mainstream world for a very long time. Just my opinion
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