My question is why would they both peak at the same time and dip at the same time?

It's two different investment classes, I don't know a ton of people who are in crypto, but pretty much everyone I know has some skin in stocks. So I guess I don't see the correlation. Can anyone clear this up for me, what factors are playing a role in both? They seem like they should be competing assets in some situations, but this is making it seem like they basically go together.