Is it the only reason why Bitcoin is going down right now?
Nope. The main concern now is the ongoing investigation in the United States against Binance. Both the Internal Revenue Service (IRS) and Justice Department are reported to be collecting information specific to Binance in preparation for a lawsuit. This was sort of expected, after Janet Yellen had her meltdown a few weeks ago. Even last year, I had warned everyone here that Democrats are much more of a threat when compared to the Republicans as far as cryptocurrency is concerned. And my prediction is being proven right.