Truth be told, the sell off is for the same reasons as always.
You see, a few wealthy, rogue bitcoin whales. They've installed microphones on high-rises and tall apartment buildings around the world.
What they do is to force out the weak hands by creating panic selling.
Then they collect the recordings as those panic sellers jump out the windows, screaming as they plummet to their deaths.
They then all get together, smoke cigars, twirl their moustaches, and cackle with glee as they listen to the screams of panic sellers.
Well, that or there was some bad news that spooked some heavies.
So, nothing really new. This is not the panic that you're looking for. Move along...