People just selling their alts, cause they are scared of BTC. I think when btc is going to correct in the next days, we see some alt pretty hard pumping
Peoples were selling both BTC and alts due to the events in the most populated country in the world,was certainly a dramatic fall in some sense,the news dropped as a tsunami over crypto.
I also sell 50% of my bitcoin for the securing my investment and the remaining 50% were still holding into my wallet for the reasons of believing into bitcoin ability to survive. Moreover, I cannot sell my altcoins because I assume that after this banning of ICO's in China it will increase again and if my speculation happen that is my chance to sell all of my altcoins.