iphone 16 pro max bluetooth disconnects automatically and turn on continuously

I own a 16 Pro Max, and for the past few days, my Bluetooth has been disconnecting continuously. I initially suspected an issue with my device. However, later today, I discovered that several of my friends also have 16 Pro Max phones, and I tested their Bluetooth connections. I found similar problems with their phones as well. I am uncertain if this issue is specific to my location or if it is occurring in other places. I am also unsure why iPhones are behaving in this manner. Could you please provide any additional solutions to address this problem? Your assistance would be greatly appreciated.