Bitcoin price drops can be caused by various factors, such as:

1. **Market Sentiment**: Negative news or uncertainty in the financial markets can trigger massive selling by investors.

2. **Regulation**: Fear or announcements of strict regulations in major countries, such as the United States or China, often cause Bitcoin prices to fall.

3. **Exchange Rate Fluctuations**: Bitcoin is highly volatile, and large fluctuations in a short period of time are common.

4. **Market Manipulation**: Whales (large investors) have the capacity to influence Bitcoin prices through large transactions.

5. **Technological or Security Developments**: Technical issues or hacks on crypto platforms can also cause price drops.

Are there any specific news or other details you would like to know?#marketdownturn