No. If there's violent trauma, such as a neck fracture, that puts pressure on the spinal cord in a specific area, cardiac instability is possible, but this does not happen with arthritic degenerative changes in the cervical spine. It has to do with anatomy.
Actually, there are numerous incidences of cardiac arrhythmias induced by non-tramatic and even normal degenerative issues in the cervical spine. A quick review of either osteopathic or chiropractic literature will produce examples and mechanisms. I would agree with the other commentor that it is highly unlikely to cause cardiac instability, but bradyarrhythmia is hardly categorizable as unstable.
I would think the Bystolic is pushing your heart rate down into those numbers. I take Atenolol for A Fib and my heart rate went from usually in the low 90's to right around 50. THe Dr told me it isnt a problem unless you feel faint. Do you have other issues they are worried about? The chest pain could be the A Fib. are you in constant a Fib?
The Bystolic seems most likely to be the culprit of the bradycardia. Cervical issues that could involve the vagus nerve could also be the cause of the bradycardia.