While Bitcoin is often considered as a "digital gold" that's not influenced by the traditional market chaos, this time it wasn't spared from the panic effects of the global market. Bitcoin and crypto analysts in general are also watching a possible “death cross” on the charts, which could signal more downside ahead.
Being digital gold doesn't mean it cannot be influenced by traditional markets. Gold itself is influenced by stocks and you can see it pumping right now because stocks are being dumped. There's inverse correlation between stocks and gold.
Unfortunately investors who own stocks also own bitcoin, which means that if their businesses are in danger they may be forced to sell some of their investments. It works the same when it comes to other things that they own. For instance if you have 2 cars and your business is slowly going bankrupt you may need to sell one of them to keep the business going for a longer time.
The way I look at this is as follows:
I own bitcoin because it works. If it was hacked, banned, or something like that, I'd consider selling it. I know it works. It's the same bitcoin people were paying $100k for! I won't sell it just because some people in the US are going crazy. I'm not in the US and I don't own any USD.