$BTC Bitcoin's price has been falling rapidly recently due to several important factors. First, the sudden surge in long liquidations has increased selling pressure, especially when BTC hit a key resistance level near $70,000. When highly leveraged investors are liquidated, the price often corrects more sharply.

Second, although the US Federal Reserve has hinted at an interest rate cut, which is usually supportive of risk assets like Bitcoin, the market has recently been concerned about increased volatility and unfavorable short-term moves. Some analysts warn that a temporary correction may be necessary before Bitcoin continues its upward momentum.

In addition, uncertainty in the global economy and political factors, such as the upcoming US election, have also made investors hesitant, leading to this temporary price drop.