Bits and Pieces Bitcoin and the Collapse of the FTX Exchange

After the recent collapse of the FTX Exchange, Bitcoin has lost value again. So have most of the other cryptocurrencies and tokens in Sync with Bitcoin dropped in price.
If the collapse of the FTX Exchange has noting to do with Bitcoin and is purely fraud and theft, then why has the price of Bitcoin dropped?
Is Bitcoin then really a new monetary replacement or even a Store of Value?
Why are the rest of the Cryptos dropping in sync with Bitcoin?
I discuss the event

CoinmarketCap
https://coinmarketcap.com/

Explanation of FTX Token
https://coinmarketcap.com/currencies/ftx-token/

Details of the FTX Exchange Collapse
From $32 billion to criminal investigations: How Sam Bankman-Fried’s crypto empire vanished overnight
https://www.cnbc.com/2022/11/15/how-sam-bankman-frieds-ftx-alameda-empire-vanished-overnight.html