As for the reasons for the decline in Bitcoin prices, we can make a comprehensive analysis from multiple factors. The recent pullback was mainly affected by the uncertainty of the US presidential election. According to the latest opinion polls, Harris's approval rating has risen and started to lead Trump, which has caused the market to have a certain degree of concern about Trump's possible defeat.

In addition, the recent poor performance of technology stocks in financial reports and the unsatisfactory core PCE data in the United States have affected market sentiment and investor confidence. CNN's poll results show that Harris is slightly ahead of Trump nationwide. This change in the political situation may also have a certain impact on the share price of Trump Technology Group (DJT) and the overall stock market's pullback. This is because the market's previous bull market expectations after Trump's election were too optimistic.

It is worth mentioning that yesterday Trump sent his blessings to all Bitcoin enthusiasts on Twitter on the 16th anniversary of Satoshi Nakamoto's white paper. He said that he would end Harris's "war" on cryptocurrencies and promised to promote the development of Bitcoin in the United States. Despite this, these remarks did not have a significant support effect on Bitcoin's price.