Bitcoin has experienced significant volatility, rising nearly 700% since 2022 but recently declining over 30%. The recent downturn is attributed to capital outflows from ETFs, weakening market sentiment, and shifting expectations regarding Federal Reserve interest rates. Additionally, the liquidation of leveraged positions and technical factors have exacerbated the decline. Future movements in Bitcoin's price will likely be influenced by ETF capital flows and Federal Reserve communications, as the cryptocurrency remains highly sensitive to macroeconomic conditions.