For this time the biggest impact that affects the price of bitcoin to soar is trump winning the US presidential election, this is the reality.
Because it seems that the price of bitcoin spiked so high when the vote count occurred in the US and Trump was ahead.
But don't forget the habits in the 4-year cycle, that bitcoin halving is always a consideration because a year after bitcoin halving we will see a bullish season.
No offense, this is a big influence that Trum won the election, with his Pro-crypto campaign, making the market trend change very quickly and heading towards a real bullrun very quickly. Even BTC has touched ATH $ 108,268.
However, it is undeniable that the current price decline is very deep, because previously it had just reached a new ATH at more than $ 108k, and was immediately slammed to $ 92k. There is a lot of FUD spreading, many parties panic and assume that the bearish has come much faster, causing a panic sell in the market. And this is what whales like, panic cells so they can accumulate more Bitcoin at a much cheaper price, before they fly it again.