They're actually rebounding slightly Deadboy. BTC was down to $701 earlier this evening. The news out of China meant this was to be expected, albeit a bunch of people are panicking. Mostly those fools who bought at the market high, expecting another major windfall from a secondary, even higher peak. They forgot Business 101: Buy low, sell high.
It's amazing how all of the cryptos are so closely tied into BTC values. BTC falls, they all take a drop. In terms of FIAT currency, that would be like the GBP dropping, and suddenly the USD & Yen fall a commensurate amount. Yet, that's not the case in FIAT currency, so why is it seem to be the rule with crypto's?