I certainly don't think it's a coincidence, but I'm not sure it makes any sense for the bch camp to hack tether to try and pull buyers away from btc. If tether is a fraud and has been playing the market then the ramifications are much much larger than just bitcoin.

Bitcoin is recovering now, but I wonder for how long... People are speculating that btc is going to spike as people dump tether, but if this is a proper scandal I'm expecting ltc and eth to spike. Lots of people have accounts set up on many exchanges where there is no cash out to fiat. If the markets are rigged and people panic and start to dump they will need to transfer value to whatever service they use as a bridge between fiat and crypto and currently almost no one uses btc for moving between exchanges because it's too slow.

Anyway this all could be just a blip and crypto will continue to rise week after week without correction forever. Everyone will get a lambo to drive on the moon in a wonderful economy of greed and memes and scams.