Bitcoin's recent price decline can be attributed to a combination of economic uncertainty, regulatory concerns, and market sentiment. Factors such as inflation fears, cautious remarks from Federal Reserve officials, and regulatory uncertainties have led to a sell-off in Bitcoin and other cryptocurrencies. Market sentiment and investor behavior also play a significant role in driving price fluctuations. Despite short-term volatility, long-term fundamentals, including adoption and institutional interest, remain bullish for Bitcoin and the broader cryptocurrency market.
Do you think these are the reasons?
That is also a reason and there are still so many reason why bitcoin price drop or rise or maybe stable sometimes, and everything is not just happen today or yesterday, this is not new we can see it in some news and it happens from so many years until today, the price of Bitcoin is not stable because it is decentralized and it depends on the investors, users, holders etc., and not in a government so don't be astonished if you saw btc drop or rise and rich new ATH, because that was normal in btc price.