Relatively, coronavirus is the main cause. Due to coronavirus, almost all the cities are locked down, people have become unemployed. Many people's resources are gone already. They need money to buy foods and daily necessary. That's why many people have sold their bitcoin at a lower price and the price has suddenly dropped like this.
Right, that's a very logical reason. This crisis caused difficulties in various aspects. Inevitably, some people sell assets to get fresh money, to sustain life during this pandemic. So it's not because of the loss of trust in cryptocurrency, this is just an attempt to survive in a difficult situation.