The price of Bitcoin is influenced by multiple factors. In terms of supply and demand, limited supply and institutional entry support the price. Macroeconomic environments such as global economic uncertainty and monetary policy also play a role. Changes in regulatory policies directly affect market sentiment. Technological developments and applications expand the value of Bitcoin. Market sentiment, trading volume, liquidity, and market manipulation influence short-term fluctuations. The development of competing coins and news events are also influencing factors. The Bitcoin halving event will affect supply. Predicting prices is complex and requires consideration of multiple factors; investors should approach volatility rationally, make cautious decisions, and pay attention to market dynamics to adjust strategies.