I think beside the rumors of Binance, the current tanking of the market is the result from panic selling from some Chinese crypto-traders or holders as
today the PBoC ( and some local government entitis）claims to initiate an action for investigation and clearing the so called "illegal ICO, IEO,STO IFO platforms and any entity or exchange trading virtual currencies inside China.  remember the 04.Sep.2017 China bans all exchanges and expells all outside of country, but right now in China there are still some big or small exchanges offering trading services to the Chinese, they become target of the government.  China is always pro-blockchain but against all ICO, coins or tokens in any form.
you could say the Chinese traders are not as important or vital to bring a substantial market pump or dump influnce as they did years ago, but they still stands for a significant portion and has certain impact to the market (if they don't leave this market).