When it comes to Bitcoin, its price is mostly dependent on the buying and selling of it. If people buy more Bitcoin than they sell, then Bitcoin's price will increase and it's the opposite in the other case.

That's how the crypto market works. In addition to that, there are third-party factors that could affect Bitcoin's price, such as wars or significant world announcements related to Bitcoin and cryptocurrencies in general, as well as events like the halving as far as I know.