I mean there is no really direct relationship between the pandemic, which is COVID 19,to what's happening in the market. It is really on the hands of the people, where we can see that many are panicking that's why they are selling and such. Just my two cents though.
Bitcoin to one degree or another is associated with the entire economic and political system. If these connections are not obvious, this does not mean that they are not.
In any case, the deterioration in purchasing power among the population will to some extent affect both the entire economy and the crypto market.