The reasons for the recent sharp drop in Bitcoin are:

1. The impact of the Middle East conflict on the global financial market. Once the cannon is fired, the assets will shrink by a huge amount.

2. The overall attitude of the Federal Reserve has turned hawkish, and the interest rate cut has been postponed.

3. ETF funds have been outflowing for 5 consecutive days, and Grayscale has been shipping.

4. After Bitcoin broke through the historical high, the profit-taking plate cashed out.