Maybe you haven't noticed but it was heavily pumped in the last 3 days and it dumped pretty much the amount it gained in that time.
This doesn't have to mean that people are abandoning bitcoin or getting scared of the inflation report. It can simply mean that short-term traders who recently bought decided to take profits.

It's funny that bitcoin can gain 15% and then dump 10%, but people will only see the dump ignoring that it's still up 5%