yes maybe the reasons you describe are true, many people are leaving cryptocurrencies for losing a lot of capital and they think the current market situation (drastically decreasing in price) will last in the long run and it will get worse, I also have friends who leave cryptocurrencies and he assumes that cryptocurrencies will soon become part of history, but I do not believe in that, I believe that the market will recover, only when it will happen, maybe by the end of the year the market will recover.