I invest in forex and merval, the price of bitcoin fell because they threw it no matter the “why” because it is not the cause but the consequence (because a war or a fart can be associated with a large stock market where the winners are always repeated). They throw it to generate demand. Bitcoin is starting a long-term uptrend and at this moment it is in a contraction (its lowest point in relation to its previous big rise).
It is a 90% psychological BUSINESS where always it is necessary that the most “fearful” sell any financial product they have bought since the silver does not spare on the table and it needs what another has and there must always be blood if the market does not work. The only and easiest way for that to happen is for the price of that product to go down to the buyer.
in the following graph you can see the big rise of the bitcoin in green and its contraction in red. The price is reaching the price level where, as seen in the red circles, has bounced earlier. Then I made a very probable projection of the price in the next months with dotted line. Although it is also very likely that there is still a strong drop before the big rise.
When the price drops, many go out to sell and if there is someone selling bitcoin it is because there is someone buying bitcoin.
These things can be determined by making a correct technical analysis of the price where their expansions, contractions, price levels, supports and resistances are taken into account.