No, the sky cannot actually fall. The phrase "the sky is falling" is often used figuratively to describe a situation where people are in a state of panic or fear. It originates from the fable of "Chicken Little," in which a chicken believes the sky is falling after an acorn falls on its head, and it spreads fear among other animals. However, in reality, the sky refers to the Earth's atmosphere and the vast expanse of space above us, which is not capable of falling down.