Why would anyone sell their crypto/stocks due to scares of rising inflation?

It blows my mind, when the inflation news hit, it had a negative effect on the traditional/crypto markets. So people are pulling appreciating assets to put into a deflationary currency? I've been in the crypto space for a long bit and have wondered about this, it seems bad news drives money out… while personally, it had the opposite effect on me. I'm nervous holding anything in fiat. The inflation news has me wanting to put the rest of my savings into the market. Thoughts on what drives this?