#BTCNextMove

Liquidation of long positions is one of the important reasons, as the market has witnessed a notable increase in the liquidation of long positions for Bitcoin, with a total value of 85.4 million dollars being liquidated, which has increased selling pressure on the price. These liquidations occur when the market price reaches the liquidation price of leveraged positions, leading to automatic sell-offs to cover losses, thus increasing the price drop and causing high market volatility.

The ongoing collapse of mining is also a second reason, as the mining collapse refers to a situation where miners start selling mined Bitcoin to cover operating costs due to unprofitability. This increases the supply of Bitcoin in the market and puts additional pressure on prices. The collapse of mining is a critical phase that must be monitored, especially after Bitcoin reward halving events that reduce miners' rewards by half, increasing profitability pressures.