BTC/USD slid over the weekend after a poor showing from the middle of last week.
On the weekend it dropped hard (see chart below) and is extending as I update:
There are various narratives floating around to explain its losses. Let me add in a factor that has been at play for a good long time. Crypto enthusiasts have craved mainstream and institutional acceptance. As this has been received (albeit in a slow and limited fashion) BTC is trading more like an emerging market. Its volatile and suffers when the USD is bid. That's not gonna explain everything but I'd suggest its a factor at play.