I think the huge S&P correction today and it's being overextended was a big part of recent downward moves in Bitcoin.. it's pretty well established that BTC has a connection with that index. I looked at the RSI for the S&P daily and just before today's dump it was at 80 and had been well over 70 for a while. Yikes... accident waiting to happen and doesn't take a genius to see that coming. I'm just glad the panic wasn't worse...so far anyway.

But yeah, I think bigger players were being cautious due to the S&P being way extended to the up lately.  Nothing nefarious going on that I can see. Plus, they say August is historically a shitty month for crypto markets.