Bitcoin's price decline is attributed to Grayscale selling a substantial amount of Bitcoin. As per Arkham data, Grayscale moved $57.65 million worth of Bitcoin to Coinbase Prime and 1500 Bitcoins valued at $99 million to two fresh addresses. Predicting Bitcoin's next move is challenging, but various factors such as Binance Launchpool, Bitcoin halving, and the emergence of memecoins could influence its trajectory.