Bitcoin is dropping maybe because it needs correction and some people got panic selling because bitcoin is droping. I also thinks that some bitcoin investors invest in alt coins to earn more bitcoin and try other coins.
My feeling too. Some people got caught up in the mania after $10,000. As the value started to drop from from around the $20k mark, those people that were late investors throwing money at it are probably being shaken out of the system. Long term holders who actually researched Bitcoin have a much different view in my opinion.