Bitcoin price dropped because of the Derivatives exchange BitMEX indictment on violoating The Bank Secrecy Act. all the details are linked below in articles and this video explains how this could be good for bitcoin and crypto

https://www.justice.gov/usao-sdny/pr/founders-and-executives-shore-cryptocurrency-derivatives-exchange-charged-violation

https://cointelegraph.com/news/why-the-bitmex-charges-could-be-bad-news-for-defi

https://www.coindesk.com/market-wrap-bitcoin-bitmex-record-ethereum-fees

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