Bitcoin has fallen sharply in the past few days, mainly due to the following reasons:

High CPI data: The US CPI data was higher than expected, leading the market to expect that the Federal Reserve may continue to adopt a tightening policy. This increased market concerns about inflation and affected investor confidence in cryptocurrencies such as Bitcoin. Interest rate cut postponement: Due to the higher-than-expected CPI data, the Federal Reserve may postpone its plan to reduce interest rates, which further affected the market's bullish sentiment on cryptocurrencies. Derivatives market liquidation: A huge liquidation of derivatives of up to $850 million has increased the pressure on the price of Bitcoin to fall. These liquidations reflect the market's pessimism about cryptocurrencies.

These factors together caused Bitcoin to fall from $72,500 on April 8 to $68,230 on April 9, and further to $65,000. This also affected the prices of other cryptocurrencies and reflected the market's concerns about inflation and economic policies.