I want to thank you for posting this. Earlier I read the headlines and thought "another bunch trying to figure out why markets moved in a given day". Yet you explained that this is a trend over a couple months. That makes it a lot clearer.
As I was reading I was thinking that this explains Bitcoin but it also shows how the alt-coins still are at the mercy of the grand daddy of them all. I know many proclaim Bitcoin dead (on a weekly basis it seems) but the market tells a different story. It is still the ringleader of this circus.
Any break from BTC is only temporary...everything else follows it over time.
There has to be a breakout at some point of one of the other coins. They cannot be simply tied by the apron strings to BTC for ever. Its like most of the worlds currenices tied to USD. Its not healthy for the future of crypto.
Well this explains a lot. I hope the Mt. Gox trustees will space their selloffs so as not to cripple the crypto market but there are so many variables in crypto that sometimes one can't say what will cause a fall in price.
I totally agree with @taskmaster4450 concerning the dependence of alt-coins on bitcoin in determining price. It is rather infuriating to see the price of steem go down because bitcoin's price did also. I also concur with @nathen007; alt-coins should break away from bitcoin. This is the only way for a truly decentralized world economy to emerge