$BTC Bitcoin is retracing due to a combination of factors typical of its volatility. After a period of gains, some investors are taking profits, which increases the supply in the market.

Additionally, news and market sentiment play an important role. Any regulatory uncertainty, macroeconomic concerns, or negative news can create selling pressure. "Whales" (large holders of bitcoin) can also influence the price with their movements.

It is important to remember that the cryptocurrency market is highly speculative and price corrections are common even in bullish trends.