BTC up by 10%, STEEM down by more than 20%, I always consider STEEM as stable currency, it rarely have sudden volatile move on market with exception of what happened in Jul\Aug 2016, that was painful for many but steemit grow more in term of community and price stability, I will leave it for someone who was there to talk about. 

                                                 Jul\Aug STEEM price CryptoMarketCap

I know some trader that change to STEEM if BTC price fluctuating to save their money, in the storm STEEM umbrella work fine, the beautiful thing about steem price that it is bounce less and always tend to go back to its price before storm. 

Now What happened ?

                                                                 Snapshot form CryptoMarketCap

To me this fall not consistent with BTC rise, if you take a look at whales who is powering down now, you can see it is more than previous regular powering down, especially if you follow steemdown.com closely. 97 form top 200 is powering down now .

                           Poloniex STEEM trade in for 7 days

What is the cause STEEM price to fall beside BTC rise & inflation? 

Is it recent flag war? we all felt some tension between big accounts on steemit last days, further more some warning about massive power down, i didn't pay much attention to that but maybe it had its effect . 

Is it the talk about cancelling curation rewards, sure that will make a huge different for whales and other big account depending mainly on curation rewards? 

Only strong who believe in STEEMIT will remain

         

 Any way STEEMIT has tough time now but I think it will grow stronger, as one friend said "some will go but more will come", I think more people joining steemit will help community grow and price stabilize and even increase dramatically, That can be achieve effectively with core development in steemit and new implementation of STEEM at other project, at the end STEEM is a cryptocurrency with limitless potential.