Gold is rising while equity markets around the world and cryptocurrencies are crashing. This kind of punches a hole in the theory that Bitcoin will be considered as some kind of digital gold. There definitely is a correlation and investors are selling risky assets because the yield on treasury bonds is increasing, making them more attractive.
It is disappointing - I had thought that a drop in the stock market would see money move into Bitcoin, but that's not happening at all - everyone is going back to that old time asset: gold.
Give it some time, January and February are always like this. Although I had also thought that bitcoin would gain more attention because of stock market crash, but as it seems people are going for the safe choice of gold.
Your right Stocks and indices together with cryptocurrency naturally dip down at these levels, after a fourth quarter rally between September and December, these trading instruments, most specially stocks must perform well in the fourth quarter to prove to all promising investors and already investing that, that certain stocks can indeed have the capacity the whole next year to perform, and not accidentally Bitcoin together with other crypto must show performance as well.