The recent drop in Bitcoin price ( #BTC ) is due to several interrelated factors that have affected both traditional and cryptocurrency financial markets.

1. Monetary Policy and Interest Rates:

* The main cause of Bitcoin's recent decline is the increase in interest rates by the US Federal Reserve (#FED).

* The FED has increased rates to combat high inflation, which has generated risk aversion among investors and led to the sale of riskier assets, including Bitcoin and other cryptocurrencies​ (CoinDesk)​​ (Clarin.com) ​.

2. Macroeconomic Uncertainty:

* Geopolitical tension, particularly in the Middle East, has increased uncertainty in financial markets.

* The threat of military conflict, such as Iran's attacks on Israel, has caused investors to seek safe havens, away from volatile assets such as Bitcoin​ ( #CriptoNoticias )​.

3. Evergrande bankruptcy:

* The bankruptcy filing of Chinese real estate giant Evergrande has also had a significant impact.

* Evergrande's bankruptcy has raised fears of a broader financial crisis, leading investors to liquidate their cryptocurrency positions​ (Clarin.com)​.

4. Massive Selling by Big Players:

* Reports indicate that large entities, such as Elon Musk's #SpaceX , have sold a significant amount of Bitcoin. This has added downward pressure on the price, exacerbating the sell-off in the market​ (Clarin.com)​.

5. Waterfall Effect in the Crypto Market:

The sell-offs have triggered automatic liquidations on long Bitcoin positions, further accelerating the price decline. This cascading effect occurs when prices fall enough to trigger stop-losses on traders' positions, forcing additional sales​ (Clarin.com)​.

6. Possible Stability and Recovery

Despite the current volatility, some analysts maintain a positive long-term outlook for Bitcoin. The fundamentals of cryptocurrency, such as its growing adoption and limited supply, remain strong. Additionally, future events such as the next Bitcoin halving, scheduled for 2024, could boost its price in the long term​ (CoinDesk)​.

$BTC

In summary, although #Bitcoin faces significant challenges due to economic and geopolitical factors, its long-term recovery potential remains considerable, supported by its fundamentals and its growing role in the digital economy.