I don't think the sell-off has got anything to do with BTC-E. Bitcoin turned bearish quickly after it almost touched $3000.00 for the second time. It looks like a double top to me. I wrote a post about it 5 days ago and called the top! You can find my post HERE.
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Some say that this transfer has to do with the "btc-e hack" ....
https://blockchain.info/address/18f1yugoAJuXcHAbsuRVLQC9TezJ6iVRLp
Maybe you're right and it's connected or maybe it's just a coincidence, but either way I've learned to just try to read the chart without paying attention to the rumors! :]