$BTC . Common Reasons for Pullbacks**

- **Macroeconomic Factors**: Federal Reserve policies (interest rate hikes/quantitative tightening), inflation data, and fluctuations in the U.S. stock market often influence the risk appetite in the crypto market.

- **Industry-Specific Events**: Regulatory developments (such as SEC lawsuits, tightening policies in various countries), exchange failures (like the FTX incident), and hacker attacks.

- **Technical Adjustments**: Profit-taking after a surge, breaking through key support levels triggering a chain reaction of selling.

- **Market Sentiment**: Extreme fear and greed index, leverage liquidations cascade (such as a large number of contract liquidations exacerbating volatility).