Bitcoin's continued price decline is attributed to several factors. Miners have sold over 30,000 BTC since June, partly due to the recent halving event that cut their rewards. Macroeconomic pressure from the U.S. economy, including rising inflation and delayed interest rate cuts, also impacts the market. Additionally, Mt. Gox's impending repayment of 140,000 BTC raises fears of increased selling pressure. A "double top" pattern suggests potential further declines to $50,000 or lower.

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