The Bitcoin price is influenced by supply and demand and also external political and economical factors. So, with this global pandemic, we got a added disaster...called economic failure. A lot of businesses were forced to close their doors and when they opened again they struggled and some of them had to retrench people.

So now we have a situation where more people cannot afford to buy bitcoins and some of them were forced to sell their bitcoins to be able to survive. This is leading to a increase in supply and a decrease in demand, which in turn will force down the price. (If there are not any other event that will push it up or cancel this affect)