Everyone sells on the rumor, and buys on the news. It can be so described what is happening in the capital markets, in the stock markets and in the crypto currency markets. A lot of geopolitics, economics and speculation. The effect of such a cocktail can not be predicted, unless you control it yourself.
The market is so fed up with people who are able to make good rumors and intend that this is happening and make it fud and then stupid ones are there too who dont research about it. Rather they just sell their coins on low prices even just to stabilize and save their income. But they dont know every crypto comes out again after sometime. Just need to be patient and relax.