Why is the price of Bitcoin dropping now?
Summary: Using ChatGPT
Taking profits after Bitcoin reached a new peak.
Market anticipation for the speech of the US Federal Reserve Chairman (Powell) regarding interest rates.
Liquidation of massive speculative positions caused a sudden sell-off.
Outflow of more than a billion dollars from Bitcoin ETFs.
Shifting liquidity from Bitcoin to alternative currencies like Solana and Cardano.
This decline is caused by profit-taking + fear of the Federal Reserve + strong selling pressure + liquidity outflow + interest in other currencies.