The bitcoin price movement is almost the same as the stock price movement. If we look at the month of March, the market plunged due to the effects of the bitcoin and crypto pandemic. Let's see from the chart that the OP shares with the following stock chart:

DJI


NASDAQ


ASX


NIKKEI 225


BITCOIN


from the chart above it can be concluded that the decline in bitcoin does have to do with global market conditions at the time, panic did occur not because there was a weak hand or not. Along with market recovery, bitcoin is also experiencing the same thing.