The price of Bitcoin (#BTC新高10W ) is influenced by various factors, including changes in the macroeconomic environment, market sentiment and panic psychology, technical issues, and the impact of regulatory policies[^0^]. Here are some factors that may lead to a decline in Bitcoin prices: 1. Changes in the macroeconomic environment: Recent adjustments in the monetary policy of the U.S. Federal Reserve, as well as inflation expectations in major global economies, have directly affected the investment enthusiasm for digital currencies. Many investors have shifted their focus to traditional assets, leading to a decrease in demand for Bitcoin and a drop in price[^1^]. 2. Market sentiment and panic psychology: As Bitcoin's price continues to rise, the market is filled with optimistic investment sentiment. However, once the price experiences fluctuations, panic among investors can quickly spread, causing more people to choose to sell, and this negative chain reaction often directly affects prices[^2^]. 3. The impact of policy regulation: Recent news regarding cryptocurrency regulation has heated up again, especially after some countries introduced stricter cryptocurrency policies, increasing market uncertainty and affecting investor confidence[^3^]. Additionally, Yu Jianing, co-chairman of the Blockchain Committee of the China Communications Industry Association and honorary chairman of the Hong Kong Blockchain Association, stated that after Bitcoin breaks $100,000, a correction is likely because Bitcoin has risen too quickly; historically, cases of Bitcoin correcting by 20% in a single day are not uncommon[^4^]. Therefore, it is foreseeable that Bitcoin prices may decline in the future. However, the market's view on its future remains divided, with some analysts predicting that as the market matures and regulations become clearer, Bitcoin's price will rise again[^5^]. Overall, Bitcoin's price volatility is high, and investors need to closely monitor market dynamics and related influencing factors. $BTC