the people before are panic selling their bitcoins because even the slightest news can trigger the people to sell them, how much more the bigger news. in fact, the news i heard was that the US are planning to have a hearing about bitcoin. some critiques before tried to panic people by saying news that US will have a negative say to the crypto world. and after a few weeks the bitcoin price fell back down. but then after the US's hearing says that they'll support bitcoin, people then started rushing into the buying part which made bitcoin rise.