elon made a status on twitter which made a lot of people panic and maybe a lot of whales who used it to make the price crash and it seems that everything is elon musk's fault, but you have to know if elon didn't make a statement like that then there wouldn't be a dump like this.
Yes, Elon's influence is bigger than China's, he's really taking advantage of his influence to dump the price of btc, but I think this might be a strategy to buy bitcoin at a low price, or make an opinion to switch to another coin and pump it up