I don't think it's only because of the bad news ,I believe the growth of other cryptos effects bitcoin. The high price of bitcoin and the good performance of some crypto currencies like ethereum in small price compared to bitcoin make investors to choose those cryptos to invest.
LOL, if it were so then other cryptos wouldn't have dropped down as well. Pretty much all cryptos have fallen down to about 50% or more from their ATH. Ethereum was showing some resistance initially but it fell down as well.