Bitcoin is Down
As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,
But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.
It's not the virus in the sense that the virus does not infect Bitcoin and cannot spread when Bitcoin transactions are made. However, it is the virus media coverage. Even though you're right that the COVID-19 thing has been going on for a while before the price went drastically down, there was a very clear event that was closely followed by the fall of the prices: WHO announcing COVID-19 is a pandemic. Moreover, the situation has been changing a lot in various countries with new restrictions appearing every day, and the virus seriously affecting the lives of at least hundreds of millions of people.