$BTC is especially volatile lately for several key reasons:

1. Regulatory changes: New laws or restrictions in large countries (such as the U.S. or China) create uncertainty and can lead investors to sell or buy in mass.

2. Institutional movements: Large purchases or sales by investment funds or companies significantly affect the price, as the market remains relatively small compared to other assets.

3. Upcoming halving: Bitcoin's halving reduces the reward for mining, generating speculation about a future price increase.

4. Macroeconomic factors: Interest rates, inflation, and central bank decisions affect the appetite for risk assets like BTC.