Like many leading Unis, Bristol will score each application and the rank all applicants for each course. They then make gradual offers working down that list - ie. the 'threshold' gets lowered as the admissions cycle progresses - until they have made enough offers to fill the course.
For Law, Bristol uses the weightings 20% GCSE, 40% A levels, and 40% LNAT. Were your GCSE weaker, have you taken LNAT yet, or did you feel that it went badly - remember that Bristol also reads the LNAT essay. Any of these could explain why they thought you had not met the threshold yet - however, its unusual for Uni to make an offer and then withdraw it, unless they have discovered something factually incorrect about your application. I suggest that you or your school phones them and asks for an explanation about this decision.