The market is down because of numerous factors acting on the market at the same time. The market experienced attacks from governments after it hit Bitcoin hit $20K early of this year. The governments were scared of the kind of power Bitcoin could give to its users, hence decided to publish all kinds of bad news with the intention to create FUD in its investors and potential investors.
It would be really interesting to investigate what was the actual single biggest thing that happened which triggered the decline. I doubt it is related to governments mainly. Just before the decline Facebook and Google announced their ban, I think that was the beginning of the downward trend.