There's a little more to it:

1. Chinese New Year is the largest migration of people on earth, with an estimated equivalent of $100 billion USD being spent in the next 3 weeks. People are cashing out their wins to go all out, gift, visit families, etc.

2. Korea just made people complete Know Your Customer (KYC) for exchanges on Jan 31, so anonymous trading is illegal. This means people are looking for ways to trade out of state as well as make themselves legal. The flow of money has slowed down but it's unlikely it will cease as this shakes out.

3. Japan is freaking out about CoinCheck, the largest crypto hack in the history of everything that makes Mt. Gox look like a walk in the park. While they promised to pay everyone back it's bad timing.

Of course, the Tether thing. Hopefully the community at large is aware and moving their money to other products or traditional products like Gold.

Regardless of how you look at it, Bitcoin is still having a great year! I'm not shaken in the slightest.