The sudden rise in the price of Bitcoin #BTC and then the rapid decline after that is due to several reasons. Among these reasons:

1. Increased demand due to investment funds: Bitcoin spot ETFs have greatly boosted demand. With a demand for 2800 Bitcoins per day versus the production of only 900 Bitcoins, there was a shortage in supply which caused the price to rise suddenly.

2. Market movements and speculation: After the price rises, some investors quickly take profits, which leads to selling pressure and causes the price to drop quickly. This type of behavior is common in the cryptocurrency market, as the market is highly volatile and rapid price movements are common.

3. Technical and historical factors: The market often sees rapid rises in some periods such as October, followed by corrections as the market rebalances after rapid rises.

These reasons together lead to rapid rises followed by similar declines.