Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.
I believe what you said did have a big impact on the crypto market which is currently falling. but the moment will surely rise again. we will see the market will grow in the future.
After mining was banned now China banned crypto transactions. the impact is quite large and indeed can change market trends quite quickly.
something like this happened not only once, because previously China also gave negative statements, and every time they released news the market immediately fell in price, but indeed not long after that the market rose again and the effect was only temporary. so we have to be able to deal with it, so we don't regret it later