Well, there are other reasons as well like the announcements being made in the market be it Paypal supporting bitcoins purchase or be it Musk disapproving the bitcoin payments for his company. The market doesn't completely rely on these news but at least it gives a hint in which direction the market will move.

Some other reasons for dump might be competition in the market. A lot of people started selling their Ethereum when they heard a new giant is coming in the name of PolkaDot but I don't think that was true as Ethereum continues to grow. If a better coin than Bitcoin arrives in the market, which although is hard, I am sure the popularity of Bitcoin will take a hit.