there is a global financial crisis that is more likely to happen this year that is why stockmarket and even crypto capitalization is affected by this crash in economy. i dont think that solely the stockmarket is the reason of fall in total market capitalization in crypto.
I think so, stock market has no major influence in cryptomarket dump and for me its more on the hard fork of the BCH that caused a lot of panic to some miners and even to the investors.
Its just a coincidence, and IMO when stock market dump cryptomarket should take the different way because investors will switch in cryptocurrency.
Also a lot of fud news circulating around cryptomarket, and they continue to discourage people from holding their coin and force them to sold it at a loss. So many negative speculation, but dont listen to them listen only to yourself which more reliable compare to any fud news.