It's because BTC is a risk-on asset. So many equities have tied into it, that it moves like an equity itself. People always like to talk about how manipulated the silver market is because of how small it is. Bitcoin's market cap is still smaller than silver's.
>>60914658
Because highly leveraged traders have to sell everything to cover when their shorts go bad. When that happens, that's usually your last decent buying opportunity until the entire world FOMOs in.